In partnership with Dialog - a Thomson company -, Complinet has enhanced its Client Screening service with the ability to search for adverse media across an archive of news and business information over the last 30 years. Complinet has leveraged an extensive archive from Dialog which contains more than 120 million articles with an index of 15 million articles relating directly to PEPs, crime, fraud or terrorism - the index can be updated daily and the articles are titled with a publication date.
This is a sophisticated search service for the specific business process of enhanced due diligence; a key client screening function. This addition completes the due diligence circle for Complinet’s service, revealing any potential clients that are not on any sanction or enforcement list but may be a PEP, have an unknown background, or have been involved in some questionable activity that has been exposed publicly or in the media. The service utilises Autonomy categorization and summary software to index the media, creating specific profiles of content that cover crime, terrorism and PEPs.
“This fills gaps in the due diligence process and is the final element in checking companies, non-PEP and PEP individuals against whom there is no sanctions or enforcement hit; the media coverage provides a ‘belt and braces’ check above and beyond strictly prescriptive regulatory obligations. Complinet partners with Thomson Dialog and uses Autonomy software to parse the coverage and this provides only the relevant hits that relate to PEPs, fraud, terrorism and crime. This new method of searching means that the number of false positives is significantly reduced.” said Rick Russell, Business Solutions Director.
“We are very pleased to work with Complinet and to support their Client Screening service with our extensive content archive. Dialog, like Complinet, is dedicated to providing its customers with quality information from trusted sources, and this service further strengthens the efforts of businesses in researching prospective customer activities.” said Tom Tankelewicz, Dialog Senior Director of Product Development. “By using flexible XML format, we have integrated our vast media archive with Complinet’s Autonomy software, thereby providing a richer content set to Complinet customers.”