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Innovative Systems and World-Check Host Sanctions List Compliance Seminar Series
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Free session for financial services executives brings together regulatory experts from the Bank of England and technology solutions providers to present regulatory compliance best practices
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| LONDON, United Kingdom – 25 May, 2006 – Executives of financial services institutions will learn about regulatory screening requirements and how to implement compliance best practices at a 25 May seminar, “Sanctions List Compliance,” hosted by Innovative Systems Incorporated and World-Check. As a result of the increased emphasis placed upon Sanctions List Compliance in the new guidelines published by the UK’s Joint Money Laundering Steering Group (JMLSG), and the overwhelming response to the seminar, the companies announced plans to conduct additional seminars on this topic. |
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| According to the JMLSG Guidance Notes published in January of this year, “It is a criminal offence to make funds or financial services available to targets on the list maintained by the Bank of England.” In addition to the sanctions list published by the Bank of England, there is a host of other lists published by international entities that financial services organizations are choosing to screen against as well, such as the European Union’s Terrorist List, the U.S. Treasury’s Office of Foreign Assets Control List, and others. To further improve anti-money laundering (AML) due diligence programs, most leading financial services institutions are also screening against proprietary databases of Politically Exposed Persons (PEPs). |
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| To help financial services firms sort out how best to meet their increased regulatory screening requirements, the “Sanctions List Compliance” seminar series is intended to show practical ways of implementing reliable sanctions lists compliance programs for financial services firms that need to screen large volumes of client data across numerous touch-points. |
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| The featured speaker at this seminar for financial services executives is Mr. Tom Dawlings, Head of the Financial Sanctions Unit at the Bank of England. Mr. Dawlings’ remarks will focus on the list of financial sanctions targets maintained and published by the Bank of England. Other speakers for the session will include compliance and technology solution experts from World-Check and Innovative Systems. Using real case studies, these speakers will address issues critical to the success of Sanctions List Screening. |
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| “This seminar is designed to provide attendees with practical advice on what their firms can be doing to improve their compliance screening efforts,” said Mike Healy, Innovative’s executive vice president of strategic alliances for EMEA. “With so many conferences focused on the umbrella of AML, World-Check and Innovative felt it important to offer a session devoted explicitly to the critical area of Sanctions List Compliance. Based on the overwhelming response, we plan to extend this outreach with additional sessions. We’re delighted that Mr. Dawlings of the Bank of England is able to join us today to lend his comments and perspective on this important and timely topic for UK financial services firms,” Healy concluded. |
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| For more information on today’s seminar, please visit www.sanctionscompliance.com. |
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About World-Check
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| World-Check is relied upon by more than 1,700 institutions including over 200 regulatory and government agencies in more than 120 countries. 45 of the top 50 banks in the world and 18 of the top 20 European banks use World-Check to reduce their KYC and PEP risk. World-Check, the de facto industry standard for highly structured KYC and PEP intelligence. |
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| About Innovative Systems, Inc. |
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| Innovative Systems is a world leader in delivering enterprise customer information solutions to organizations whose success depends on a complete and accurate understanding of their customers. ISI's data quality, data management, and compliance solutions include the i/Lytics® Enterprise Data Quality Suite; i/Lytics GLOBAL™ a CASS-certified address verification solution; Synchronos™, a master data management solution for enterprise customer data, and FinScan for compliance list, sanctions and PEP screening. |
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| Since 1968, companies worldwide have relied on ISI’s data quality software, systems integration, database solutions and customer data quality audits. The company has set the standard for data quality management in thousands of applications in more than 30 countries. ISI maintains headquarters in Pittsburgh, Pennsylvania, with European operations based in London. The Innovative Web site is located at www.innovativesystems.com. |
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| Company Press Contact: |
Francesca Turner
Innovative Systems Incorporated
Tel: 441 483 730446
fturner@innovativesystems.com |
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Trademark Notice
i/Lytics, i/Lytics Data Profiler, i/Lytics SECURE, eWatchLine,
Fin-Scan and Synchronos are trademarks of Innovative Systems, Inc. All other products or company names are used for identification purposes only, and may be trademarks of their respective owners. |
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