Why can't you submit the report without their consent?
The reason for this is simple: KYC and AML checks involve the collection of sensitive personal information, such as identification documents and financial statements. This information is highly confidential, and submitting it without the client's consent would be a clear violation of their privacy rights.
Additionally, there are legal and regulatory requirements that mandate the need for client consent. For example, the General Data Protection Regulation (GDPR) requires companies to obtain explicit consent from their customers before collecting and processing any personal data.
To comply with these regulations, Checkboard has implemented strict procedures to ensure that client consent is obtained before any checks are submitted. The app requires clients to confirm that they have read and understood the terms and conditions of the service, including the collection and use of their personal information. Clients must also provide their explicit consent before any information can be submitted to their solicitors.
While Checkboard is an efficient and user-friendly onboarding app, it cannot submit KYC and AML checks on behalf of its clients. This is due to legal and regulatory requirements and the need to protect the privacy of client's sensitive personal information. Therefore, clients must take an active role in providing their consent before any checks can be submitted.