Frequently Asked Questions
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What is Know Your Client (KYC)? | What is the purpose of the Know Your Client (KYC) process in the context of financial institutions?
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Why KYC is not fit for purpose? | What are the limitations and challenges that make KYC less effective in addressing modern financial crime risks?
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What is Know Your Network™ (KYN™)?
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What advantages does KYN™ offer over KYC?
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Could you explain the concept of Entity Resolution (ER)?
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Why is Entity Resolution a crucial component of the KYN™ approach, and how does it contribute to risk assessment?
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Why is your AI for ER better?
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What types of information does Know Your Network™ collect to build an individual's network?
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How does KYN™ AI technology work to analyze potential clients' connections?
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How does KYN™ ensure data privacy and compliance with data protection regulations while collecting and processing publicly available information?
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Can KYN™ AI technology adapt to different languages and alphabets when gathering and analyzing data from various sources around the world?
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What specific types of financial crimes does KYN™ aim to address, and how does it differentiate between different criminal activities?
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How frequently does KYN™ update the network information it provides to users, and how does it ensure the information stays current?
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Can KYN™ provide alerts or notifications to users when it identifies potential risks or suspicious connections in a client's network?
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What is the process for onboarding and integrating KYN™ into a financial institution or law firm's existing systems and processes?
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How does KYN™ handle false positives or inaccuracies in its risk assessments, and what steps can users take to verify or rectify such issues?
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Can KYN™ AI technology adapt to changes in criminal networks and tactics over time, ensuring it remains effective in the fight against financial crime?
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Does KYN™ offer training and support to its users to maximize the effectiveness of its platform in identifying and mitigating financial crime risks?
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How does KYN™ handle unstructured data, such as text from social media or news articles, in its analysis of potential financial crime risks?
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Can KYN™ be integrated with existing risk management and compliance systems in financial institutions, and if so, what's the process for integration?
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What kind of training and support does KYN™ provide to financial institutions or users who are new to the platform to ensure they can use it effectively?
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How does KYN™ ensure the security and confidentiality of the data it collects and analyzes, given the sensitive nature of financial crime investigations?
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Does KYN™ provide any reporting or audit trail capabilities to track the use of its platform for regulatory or internal compliance purposes?
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What kind of industries or organizations beyond the financial sector can benefit from KYN™ financial crime intelligence capabilities?
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How does KYN™ handle cross-border financial crime investigations and ensure that it considers global networks and connections in its analysis?
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Can users collaborate or share information and findings within the KYN™ platform, fostering a cooperative approach to tackling financial crime?
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Does KYN™ offer any predictive analytics capabilities to help financial institutions proactively identify potential risks and trends in financial crime?
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Can KYN™ assist with ongoing monitoring of clients and their connections to detect changes in risk profiles over time?
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What level of scalability does KYN™ offer, and can it accommodate the needs of both small and large financial institutions?
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Can KYN™ help financial institutions assess the ethical and reputational risks associated with their clients' connections beyond purely legal and financial concerns?
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Can few people work simultaneously on the same KYN issue?
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Is it possible to download the research and use it in other platforms?
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How is the portfolio different from the KYN case?