KYC-EDI

Partner identity check before EDI onboarding — KYC = compliance basics.

Definition

EDI checks: (1) legal identity (LEI, KvK, SIRET, EORI), (2) ultimate beneficial owner (UBO, EU transparency register), (3) sanctions screening (US OFAC, EU consolidated sanctions list), (4) PEP screening (Politically Exposed Person), (5) credit rating (Coface, Dun & Bradstreet, EulerHermes). Storage and retention 5-7 years per AMLD6 (EU) / Bank Secrecy Act (US).

Origin

Widespread practice in banking since the Patriot Act (2001), extended to B2B with AMLD5 (2018).

Example in context

Onboarding a new Walmart EDI partner: SAM.gov, OFAC, D&B Paydex checks before issuing the AS2 connection.

Related terms

• Sanctions screening — KYC component.