One step to prevent money laundering is to avoid sanctioned parties and identify high-risk individuals on whom you conduct appropriate and sufficient enhanced due diligence.

You are responsible for meeting compliance requirements. And sanctions and PEP screening are part of that. You know that if a sanctioned actor gets through, your company's reputation can be irreparably damaged, and you could be fined on top of that.

However, with the wrong software and operating procedures, false alarms can completely turn your business upside down.

IdentityMind – now Acuant Compliance has the solution.

We help you by providing you with the right lists for screening.

We provide 350 lists.

However, having access to a wide range of lists doesn't mean you want to use them all every time you screen a prospect. This can cause your alert volume to skyrocket and is probably unnecessary.

Use the lists through risk profile-based segmentation

By user or business profile
By country or jurisdiction

This means you can always check the right lists.

And simply selecting the right lists reduces the false positives that occur with normal screening.

In addition, our matching engine allows you to match using strong aliases (e.g. aka) and also the original character set as specified in the lists. Our engine uses CosineSimilarity, Phonetic and Distance algorithms for the best possible matches to ensure you don't miss anything and aren't easily fooled by sanctioned individuals looking to avoid detection. Further reduction of false positives is achieved by filtering by date of birth and location.

You can customize the thresholds the platform uses to match against specific lists, as well as the algorithms you want to use.

The engine also stays up to date with newer regulations, such as cryptocurrency matching, by being able to match crypto addresses and their users.

The net result is better agreement and fewer false positives and false negatives, so no regulatory findings are made.

350 lists
Rule-based list checking
Matching based on machine learning
Social screening
Crypto address screening

Avoid fines and protect your reputation with IdentityMind.

A robust customer identification and due diligence program is an important part of any company's AML architecture and consists of identity verification, document review, entity disambiguation, enhanced due diligence for higher-risk customers (i.e. a risk-based approach), and understanding the interrelationships within the entire ecosystem.

Digital identities play a critical role in connecting all of these requirements as they allow multiple attributes to be bundled, linked and associated with each other, resulting in far more informed risk management decisions and improved detection rates. The IdentityMind RegTech platform leverages digital identities and provides a set of specific tangible elements: reputation, identity graph score and tag framework that work together to enable you to deploy this risk matrix for your financial institution, bank, MSB, fintech, online business or any other business where compliance is a must.

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