Compliance Check

Your business transactions on a sound legal footing!

Since 1 January 2017, businesses in Austria have been under the legal obligation to carry out an exact background check of people and companies before doing any business with them. The purpose of this check is to prevent use of the financial system for purposes of money laundering and terrorist financing.

  • Compliance check in accordance with the law
  • Background information on the beneficial owner
  • Saves time by having both the credit and compliance check performed for one information report
  • Full coverage of all individuals and companies in Austria and worldwide
  • Various procurement options: on My KSV, via interface or data reconciliation
definitions
Definition

What does Compliance Check mean?

Our Compliance Check determines whether your business partners are politically exposed persons (PEPs) or as persons or companies subject to sanctions (SANs). The acronyms PEP and SAN are internationally recognised and used around the world. In addition, the ComplianceCheck takes into account information on fraud, financial and tax offences, terror and corruption.

The following sectors and/or companies are affected:

  • financial institutions
  • credit institutions
  • lawyers and notaries
  • real estate agents
  • auditors, tax consultants
  • companies that receive payments of EUR 10,000 or more in cash
products
Products

Select this procurement option:

Integral part of KSV1870 reports

On request, the Compliance Check can be made available directly in all CompanyProfiles and PersonalProfiles in Austria and worldwide. As soon as the check comes back positive, you will find the detailed information on the outcome in the report.

A product in its own right: Compliance Check

The Compliance Check is available as a separate report on Austrian companies for EUR 7.60 excl. 20% VAT.

Content:

  • Information from the BeneficialOwnerReport
  • Information on company officers
  • Result of the Compliance Check (PEPs/SANs)

 

dow-jones-watchlist-categories
Dow Jones watchlist categories

ComplianceCheck categories

PEP

Political exposed person (heads of state or government, ministers, senior public servants of a provincial government, embassy and consulate employees)

RCA

Relative or close associate (family members, relatives and other close persons)

SIP

Special interest person (personal check for sanctions, financial and tax offences, corruption, Interpol)

SIE

Special interest entity (company check for sanctions and/or sanctions of owner, financial crimes, war crimes, terror, corruption, Interpol)

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