2024 has seen a lot of turbulence in the Irish economy, and this has included a large volume of updates to the Financial Sanctions and PEP lists.
Only 4 months into H2, the CBI alone has published over 100 Sanction updates, coming from all across the world, including Russia, and Europe.
The objective of each update can often be to expand or refine the scope of the Sanctions; often bringing additional individuals, companies, and activities into scope.
While this is a dynamic area, we'd like to assure you that CRIFVision-net work hard to ensure profiles are updated, with real-time data, and available through your account, to assist with your AML and Sanction compliance.
With the level of changes above, many clients have asked us to run a fresh batch check of their customers against the latest Sanctions and PEP lists. If it's a requirement for your business, we can help you easily and quickly identify if companies in your supplier or customer portfolios are showing directors currently listed on the latest Sanction lists - saving you substantial time and manual resources.
Our compliance solution can extract the Directors from your supplier or customer portfolio working from just company names. From there, we can match and cross check the Directors, Secretaries, and Shareholders against the very latest PEP's and Sanctions covering 150 regions including the EU, UK, UN, US Treasury, Security, State, and Unilateral Sanctions and defence trade controls. We can also run credit risk mitigation screening.
This report can then be delivered back to you in a dedicated secure area on CRIFVision-net - your DigitalHub - to enable future on-going monitoring.
You may also find your AML report on companies helpful while seeking to identify and check for the Ultimate Beneficial Owner of entities to see if they can relate back to PEP's or Sanctioned individuals. This can also be included in any batch checks run.
If you currently have a CRIFVision-net account, and would like to activate our person monitoring service in order to stay up-to-date with the latest PEP/Sanction changes, please don't hesitate to contact us on Tel: 01 903 2660, or email us at solutions.vision-net@crif.com.
By Business Barometer.
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