FAQ Compliance Check

If a company has been sanctioned, or involved in AML, or they have been issued a penalty by law for failure to comply with a court order, law or regulation. It is illegal to deal with a such company, so it is important to run a check on them and be compliant with the current guidelines set in place.

Standard checks do not screen clients against Global list, while PEPs are not necessarily included in financial sanction checks. Companies are required to run the checks as it not only reduces own company’s risk exposure, but to also comply with the current guidelines and stay within the law. It is also the responsibility of the credit or compliance department to carry out proper due diligence when working with new clients as you need to be fully aware of whom you deal with under ‘Know Your Customer’ (KYC) guidelines.

The Anti-Money Laundering regulations are governed by different Acts globally: for example like The Proceeds of Crime Act, The Serious Organised Crime and the Money Laundering Regulations etc... Failure to report suspicious activity can carry a criminal sentence and lead to substantial fines from the relevant regulatory body.

Our robust global risk intelligence enables your business to easily integrate proven data science across critical risk management and compliance processes. Achieve higher levels of decisioning precision with database segments that are tailored to fit specific financial crime compliance and risk management strategies, including: -

• SANCTION DATA
• ENFORCEMENT
• PEP (Politically Exposed Person)
• ADVERSE MEDIA
• SOE (State Owned Entity)
• REGISTRACTIONS under FACTA, MSB’s etc...

All Reports are Real Time, at a click of a button delivering current and continuously updated screening data

CRIF Compliance Data is ideal for organizations needing to screen customer and partners quickly and efficiently and to proactively help your business:

• Increase transaction screening efficiency
• Reduce false positives
• Mitigate costly risk