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Businesses today are becoming more global in order to meet shareholder objectives. At the same time, money laundering and terrorist financing groups have become more sophisticated in how they operate. This results in the potential for financial and reputational risk to the organization, including large fines and potential jail time for executives. It’s no wonder that compliance initiatives to combat money laundering and terrorist financing are front and center in executive board rooms.
FinScan® helps organizations worldwide reduce risk and ensure compliance with heightened screening requirements of various
anti-money laundering (AML) and anti-terrorist financing (ATF) legislation through:
Sanctions & PEP Screening
- Cleanses and standardizes sanctions list data prior to matching
- Propagates alias and “hidden” name records
- Accurately screens new and existing customers and associates against sanctions lists and private risk lists, including leading third-party PEP lists and databases
- Provides intelligent “safe list” processing that minimizes the number of records to be reviewed
- Includes a Web-based case management application to shorten review time
- Offered via licensed software or hosted services, for quick implementation
List Management Services
- Offers more than 30 sanctions and PEP lists – and others can be added on request
- Continually monitors dozens of sanctions lists for adds or changes, then incorporates the updates and notifies you when they are ready for use
- Cleanses all lists to be matched – including your internal lists – to standardize formats and improve the quality of the match results
- Relieves you of the burden of keeping sanctions list data current, accurate, and formatted in a standardized, usable way
Know Your Customer (KYC) and
Customer Information Program (CIP)
- Simplifies KYC/CIP compliance through an identity verification solution that includes a referential database of proven searchable sources
- Offers an automated process for authenticating identification documents
- Includes sophisticated matching routines, which enable accurate customer identification in spite of relocations, name changes, nicknames and married names
- Maintains a history of the customer identities checked and the information used in the verification process
These combined offerings deliver a complete screening and enhanced due diligence solution for the entire enterprise.
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