The purpose of remediation in KYC is to distinguish between low-risk clients who require less attention and risky clients who are potentially capable of executing a financial crime. Most firms do that by screening, verifying and identifying customers’ information. Internal compliance departments process this data manually or work with third-party products that provide a seamless experience. Many outside providers put together the moving parts of the KYC lifecycle—from onboarding to monitoring—in one centralized tool. Without complete information, risky clients have a clear path to launder money or partake in other corrupt activities. Letting just one fraud fall under the radar can cost monetary and reputational damage.