Diligence pays off for Patriot Act advisors.KYCOS Ltd., providers of cutting-edge "Know Your Customer" outsoureed services to companies needing to comply with the Patriot Act Patriot Act: see USA PATRIOT Act. and other worldwide due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. regulations, has been named a "Vendor of the Year" nominee by Institutional Investor's weekly newsletter Compliance Reporter.
KYCOS is among four finalists selected by Compliance Reporter to receive a second annual Achievement in Regulatory Compliance Award in the "Vendor of the Year" category.
KYCOS was selected as a "Vendor of the Year" nominee because of a suite of services characterized as "more complete than that of any other AML AML - A Manufacturing Language vendor because it takes over every over every step involved in the know-your-customer process, from obtaining original ID to checking it against terrorist lists and storing copies for future retrieval."
A key service mentioned was the KYCOS Card, which may be given to account holders whose identifies have been checked by KYCOS. Any person who has previously had his identification verified by KYCOS can use the card as a fast-track form of identification when opening any new accounts.
KYCOS launched its anti-money laundering Anti-money laundering ("AML") is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent or report money laundering activities. program in the fall of 2003.
The company is based in the Isle of Man Noun 1. Isle of Man - one of the British Isles in the Irish Sea
British Isles - Great Britain and Ireland and adjacent islands in the north Atlantic and the Cayman Islands and was founded by team of regulatory and technology professionals. Company chairman James Knapp is a renowned expert in the field of data compression.
CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. John Bourbon is a former banking regulator and an internationally known authority in the fields of compliance and customer due diligence.