Offering credit to your customers can be a great way to grow your business. If you can do things like deliver goods on credit and extend loans you will be able to increase sales. However, there is an inherent amount of risk involved when offering any type of credit to a customer, as you are essentially taking their word that they will honour their debts. This is why GCS’ Know Your Customer (KYC) reports are so crucial, as they will give you the necessary information to make smart decisions about which customers you offer credit.


KYC credit reports are not just about credit. In today’s world your business could be putting itself in legal peril by doing business with the wrong company or individual. Businesses can no longer claim ignorance when it comes to things like terrorism or money laundering. There are strong Anti-money laundering laws (AML) around the world that will come down hard on any business that is caught associating with criminals. Knowing your customer is no longer a matter of just ensuring they are a safe credit risk, it is now a vital part of protecting your business legally.


GSC’s KYC Credit Report is a perfect entry-level report that provides AML/KYC (know your customer) compliance. This is accompanied by a full Commercial Credit Report that will give you all of background financial information you need to make savvy choices about which business partners you choose to offer a line of credit. These reports will not only meet compliance standards but will also give you the relevant information needed to improve credit management standards.


In addition to minimising your risk when it comes to the customers you deal with; KYC reports will also save you money. This single report can serve the same function as a full time credit manager, risk manager and compliance manager, which means you won’t have to have a full time staff of people. GCS does the legwork for you, so that your business can focus on the things that it does best, while leaving the customer background checks to us.


The business world has become a very complex place in the last few years, as businesses have things to worry about that were not issues in the past. With strict anti-terrorism and anti-money laundering laws in place around the world, it is vital that you know who you are doing business with, as claiming ignorance is no longer an option. GCS’ Know Your Customer reports will ensure you do not get involved with a business that is a credit liability or legal risk.


If you have any questions about our Know Your Customer reports or any of our other risk management solutions feel free to contact us by phone or email and we will be happy to answer them. If you would like a free quote simply click on the “Request a free quote today” button at the bottom of the page. Global Credit Solutions has the international team in place to ensure that you have all of the necessary information to make sound decisions about your customers.

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