Technology review 2010: Minimizing reputational risk

Also in this section: Controlling fraud - payment cards Controlling fraud - Digital Indentities Minimizing reputational risk Improving connectivity Automating bank relationship management Treasury Management - Efficiency and compliance Treasury Management - In-house versus ASP and SaaS solutions

Accuity, which has been providing anti-money-laundering services to banks for more than 20 years, is now providing them to a growing list of companies. Using its Global WatchList data assembled from a variety of sources, including sanctions data, enhanced due diligence (EDD) and politically exposed persons (PEP) data, Accuity’s anti-money-laundering services enable companies to avoid trading with potentially illicit organizations, damaging fines and adverse publicity, as shown in Figure 3.

Figure 3 - Anti-money laundering services data collection flows and usage

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Source: Accuity

Due to the proliferation of money laundering Accuity has recently added new data lists to its files and increased the update frequency for its PEP and EDD data.