General

News & Insights June 22, 2026 How Cyprus Accounting Firms Can Onboard Clients in Minutes — Without Cutting AML Corners For most accounting and audit firms in Cyprus, taking on a new client still means a paper chase: collecting IDs and proof of address, chasing UBO details, manually checking names against sanctions and PEP lists, and filing it all so it survives an ICPAC review. It can take days per client — and every manual step is a place where something gets missed. As an AML-obliged entity, your firm carries real regulatory weight: KYC and KYB on every client, ongoing monitoring, screening, and a defensible audit trail. The volume keeps rising; the deadlines don’t move. The question isn’t whether to comply — it’s whether you do it by hand or let technology do the heavy lifting. Where the time really goes Three tasks consume most onboarding effort: verifying that identity documents are genuine, building an accurate risk picture of the client and their structure, and screening everyone involved against global lists. Done manually, each is slow and error-prone — and none of it scales when you take on more clients. Automating identity verification (eCV) WiseBOS eCV verifies government-issued IDs in real time using AI: it authenticates the document, reads the data via OCR, and confirms the person is real with biometric face-matching and liveness detection. So a foreign client’s passport is verified in seconds — not flagged for a manual review. 14,000+ ID document templates 138 languages supported 240+ countries covered Risk scoring and KYC/KYB that build themselves (RiSC) WiseBOS RiSC turns onboarding into a guided, scored workflow. It manages KYC and KYB documentation, maps ownership down to the Ultimate Beneficial Owner, and applies a dynamic risk matrix that scores each client automatically — flagging the ones that need Enhanced Due Diligence. It’s built to comply with EU AML Directives, ESA Guidelines and FATF recommendations, and with the eRiSC option clients can even onboard themselves. Onboarding stops being a multi-day paper chase and becomes one guided, scored, audit-ready workflow — repeated identically for every client. Screening without the false-positive headache Built-in screening checks every party against sanctions, watchlists, PEPs and adverse media — with AI tuned to cut false positives so your team only reviews real risks, not noise. And because lists change constantly, screening runs on an ongoing basis, not just once at onboarding. Why it matters for an ICPAC-supervised firm The result isn’t just speed. It’s a consistent, documented, audit-ready process for every client — the kind that stands up to monitoring. eBOS has built RegTech for over 20 years, is ISO 27001:2022 certified, and the WiseBOS Suite is used by financial and professional-services firms across Europe and the Gulf. See it on your own onboarding process Book a 20-minute demo and we’ll show you WiseBOS RiSC & eCV handling a real client, end to end. Not ready yet? Download our free AML onboarding checklist. Request a Demo Download AML Checklist