Compliance

Webinar_Addressing-Compliance,-Sanctions-and-Risk
Compliance
Addressing Sanctions, Compliance and Risk with Refinitiv World-Check

Fresh sanctions are putting a renewed emphasis on the need for organizations to orchestrate compliance and due diligence effectively. To date, the outcomes of these efforts have been varied – many organizations lack access to the breadth and depth of data required to properly vet consumers and businesses, or don’t have the integrations in place to do so in real time.

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How GIACT Approaches Risk Management & OFAC Compliance
Compliance
How GIACT Approaches Risk Management & OFAC Compliance

When the United States implements sanctions against a country or a group of individuals, domestic companies are required not to do business with the bad actors. From narcotic traffickers to suspected terrorists, belligerent states to authoritarian governments, there are many individuals and groups that companies are barred from dealing with.

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GIACT® Announces Automated OFAC Monitoring Product
Compliance
GIACT® Announces Automated OFAC Monitoring Product

GIACT Systems®, the leader in helping companies positively identify and authenticate customers, today announced the launch of gOFAC Monitoring – GIACT’s new OFAC compliance solution that eliminates false positives and accelerates compliance processing.

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FinCEN’s Beneficial Ownership Rule Still Causing Headaches for FIs
Compliance
FinCEN’s Beneficial Ownership Rule Still Causing Headaches for FIs

On May 11, 2018, financial institutions opening new accounts were required to implement greater due diligence on their customers than ever before. By law, as issued by the U.S. Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN), FIs must now collect and verify the identity of their legal entity customers’ beneficial owners. The potential cost, according to FinCEN estimates, to FIs and their clients in the first year of implementation alone ranges in the hundreds of millions.

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Are you Prepared for Beneficial Ownership?
Compliance
Are you Prepared for Beneficial Ownership?

On May 11, 2018, a new FinCEN rule went into effect requiring financial institutions to implement greater due diligence on their legal entity customers than previously. FinCEN’s beneficial ownership rule impacts virtually any FI with legal entity customers. According to FinCEN estimates, the potential cost to FIs and their clients in the first year of implementation alone ranges in the hundreds of millions.

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