Performs critical real-time address, OFAC and identity checks to protect against fraud and criminal activity
In response to the December 24, 2011 announcement by the U.S. Justice Department to allow certain types of Internet gambling, FinScan, a leading global provider of sanctions, PEP and heightened risk screening solutions, today announced that it has incorporated identity verification and address validation capabilities into its web-based eWatchLine® compliance screening solution to support the growing security needs of the online gaming industry. eWatchLine is a proven solution, designed to help keep companies safe from money launderers, identity thieves, or other criminal elements, and is used in industries such as financial services, nonprofits, manufacturing, retail, and government. When employed during any account opening process, eWatchLine validates addresses and identities of a business’s customers, and checks them against the Office of Foreign Assets Control (OFAC) list of known criminals, terrorists, and money launderers as required by US Treasury regulations.
eWatchLine performs instantaneous online processing of customer identification information and returns the results within seconds using a combination of address validation and location software, OFAC list screening, and a comprehensive data source consisting of billions of public identification documents. This seamless verification process takes place during the transaction, without visibility to the customer, and helps organizations protect themselves against doing business with unscrupulous or sanctioned individuals. Offered as a cloud-based service, eWatchLine requires few client resources and can be up and running in just a few days.
“The Justice Department’s recent reversal to allow online gambling opens the door to potentially millions of new customers for the online gambling world,” said Michael Ott, senior vice president at FinScan. “The lack of face-to-face interaction will make it more difficult for gaming establishments to confirm that the person they’re doing business with is who they say they are. In one quick step, eWatchLine removes the burden of confirming someone’s identity and ensuring OFAC compliance. With the expected onslaught of new customers and billions of dollars on the line, the gaming industry needs to protect itself. We’re happy to be able to offer them the peace of mind that eWatchLine can provide.”