In order to avoid stiff penalties and reputational harm, financial institutions have a legal responsibility to exercise due diligence in order to determine if funds are derived from a corrupt source. Accuityâs RDD lists provide the information needed to screen for individuals and entities that have been identified through legislative or regulatory action or by executive directive as mandated by governments and regulatory agencies worldwide.
The following RDD lists are new to Accuityâs Global WatchList offering:
> Central Bank of Seychelles
> Central Bureau of Investigation India
> Mauritius Financial Services Commission
> Japan's Ministry of Finance
> Bureau of International Security and Nonproliferation
> Indian Ministry
> Chinese Ministry
The EDD lists from Accuity facilitate the thorough screening of customer and account data for individuals, entities and geographic areas that, while not specifically prohibited by regulatory agencies, have the potential to introduce considerable risks to the business.
The following EDD lists are new to Accuityâs Global WatchList offering:
> South African Police Service
> International Arms Traffickers
> UK Home Office
> Central Bank of Bahamas Cumulative Warning List
âBanks and other financial institutions have an obligation to effectively screen customers and transactions, so they look for the most comprehensive data available,â says Brent Newman, managing director of Accuity. âWith frequent updates and a broad list offeringâincluding these eleven newly-added listsâour Global WatchList serves as a financial institutionâs single source for risk-related screening information.â
Global WatchList files are delivered ready-to-use within Accuityâs line of Screening Applications, including FACFilterÂ®, FACS PCÂ®, iFACS and FACLineâ¢, or ready-for-incorporation within any internally developed or vendor-provided filtering engine.