Reduce the Regulatory Compliance Burden with Business Compliance Insight
Thursday, January 4, 2018
Regulatory compliance is a constant issue in most companies. Violation of federal anti-money laundering and know your customer regulations can result in multi-million-dollar fines, so having regulatory controls in place is essential. In addition to financial risks, companies face the threat of reputational damage caused by high-profile regulatory compliance issues.
To help combat companies successfully meet the challenges of the increasingly complex regulatory environment, Experian created Business Compliance Insight. Whether you’re evaluating merchants, suppliers or customers, Business Compliance Insight provides a one-stop solution that helps identify possible regulatory, reputational and fraud risk associated with new accounts.
Business Compliance Insight helps analysts quickly conduct manual reviews by bringing together intelligence from multiple data sources on businesses and potential beneficial owners in one easy-to-read report, to be used as part of a complete investigation. Business Compliance Insight:
- Gives a single point of access for a preliminary review.
- Supports business customer identification requirements.
- Determines possible regulatory watchlist matches and government sanctions for the business and business contacts identified in the report.
- Establishes potentially undisclosed beneficial owners.
- Furnishes industry information and business structure for risk assignment.
- Assesses business financial stability.
- Pinpoints affiliates and high-risk conditions.
- Provides insights into a history of complaints filed against the company.
For information about Business Compliance Insight or other fraud and regulatory solutions from Experian, talk to your NACM North Central rep.