Screening is the backbone of AML. Working with Global Risk Screening Providers, the Solution provides checks against money launderers, terrorists, or other individuals such as Politically Exposed Persons (PEPs), and those who appear on Global Sanctions Lists, Blacklists, and Global Enforcement Lists
GLOBAL POLITICALLY EXPOSED PERSONS (PEP) LISTS
General Information on the identity of PEP (Date of Birth, First Name, Last Name, Email Addresses , Telephone Contacts, Nationality, etc.)
Alliances linked to the Individual or Legal Entity; Important Notes on the specific Individual or Legal Entity; Linked/ Associated Businesses; Information on political positions held; Information on Linked Persons (family members as well as Business Associates or Business partner included); PEP classification which indicates the associated risk level for PEP entity; A data bank of documents and content associated with PEP profile to provide a coherent and complete client profile
GLOBAL SANCTION LISTS
Sanctions are restrictive measures imposed by an international body, multilateral agency or a national government on other regimes, organisations, vessels, aircraft or individuals
Sanctions may be widened through OFAC future revisions; with a view to achieving a desirable outcome. The most widely known and applied sanctions are those imposed by the United Nations (UN). In addition to the international sanctions there also exist sanctions imposed by regional bodies such as the European Union (EU). National governments may choose to use their own national legislation to impose restrictive measures (or sanctions) against listed parties. Such measures may reflect the country’s own foreign and security policy if these are imposed unilaterally or reflect international commitment if these are prepared in view of the United Nations Security Council Resolutions.
ADVERSE MEDIA CONVERAGE
Adverse Media Data Lits brings Negative News/Information on individuals/legal entities. This is implemented from a wide variety of sources including online sites, printed media sources, etc.
Negative reports on such entities adds further to a holistic and complete approach on Know your Customer Procedures, as high quality news are continuously brought forward in order to evaluate comprehensively an entity’s profile.
ENHANCED DUE DILIGENCE REPORTS
Enhanced Due diligence (EDD) is a KYC process that provides a greater level of scrutiny of potential business cooperations. For example, EDD are being recommended for high-risk and high-net-worth individuals.
Enhanced due diligence (EDD), occurs during the client onboarding, right after the first verification. These detailed checks are designed to help minimize compliance violations and risk, and prevent financial crimes, such as money laundering or terrorist financing from occurring. Such reports should be developed for those clients (individuals or businesses) that maybe consideredas high risk
Have ongoing monitoring of your clients via the Negative List screening at the intervals you want and clients you want
With this feature, you can integrate the Negative Lists Screening to the AML software as well. In the context of a One-Stop Solution to Compliance Management, the Module provides functional integration with all other AML procedures.
WEALTH ASSESSMENT & OTHERS
We have also data for Wealth Assessment as well as for Law Enforcement Lists.
These lists are derived from various sources classify content typically derived from sources such as: Financial and other regulatory authorities and disciplinary bodies, Law enforcement and anti-corruption agencies or additional lists.