Is your risk management process ready for new compliance requirements of the EU's 5th & 6th AML Directives?
30 Jul 2020 6:56 am
- Requiring that EU member states make their beneficial ownership registries public
- Ensuring PEP lists are up to date and carrying out risk-appropriate due diligence
- Strengthening punishments for AML violations, including longer maximum imprisonments for crimes.
- Mandating international cooperation in the prosecution of suspected AML crimes.
- Unifying possible money laundering offences to a single list of 22 offences
- Making use of reliable, independent data sources to Identify and verify customers
- Identify potential compliance risk by using our tools to run checks on individual or entities across lists originating from more than 80 countries and translated from multiple languages.
- Quickly understand risk potential with data-driven risk scores based on negative news, sanctions, PEPs, watchlists, blacklists and financial information.
- Uncover beneficial ownership of companies with access to critical beneficial ownership data, corporate hierarchies, and executive/director relationships for public and private organisations around the globe.
- Manage large volumes of risk checks against regularly updated global lists of PEPs within our solutions or integrating lists into in-house tools via a constant call API.
- Generate reports to maintain an audit trail of due diligence investigations and demonstrate adherence to best practice recommendations of regulators.
- Download the factsheet on the EU’s 5th and 6th AML compliance requirements .
- Learn how Nexis Diligence can help you identify AML compliance risks with confidence.
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