Adverse Media or negative news is any bad and negative information about the customer or business discovered in various sources, and this information can also expose someone to be involved in crime. In the commercial world, these are usually news covering a brand, an individual, or a company. Adverse Media can reveal the complexity of a person or organization in money laundering, terrorist financing, financial fraud, organized crime, and much more. Adverse Media can be found in a wide variety of places, such as newspapers, magazines, TV, radio, databases of international organizations, blogs, and web articles, and traditional media such as social media platforms. The risks associated with doing business with people or companies with an Adverse Media profile are very diverse.
Embezzlement of high-risk companies or hiring a customer with a criminal record history may expose companies to the risk of money laundering, which proves them to be part of an ongoing terrorist financing channel. In addition to the sanctions and PEP scans in the Customer Onboarding processes, businesses must perform a Negative Environment check and support AML compliance processes. Adverse Media Scanning, an essential part of Know Your Customer and Anti-Money Laundering processes, enables businesses to identify and protect them from risks.
Adverse Media has great benefits for your company. For instance, Adverse Media affects the degree of risk that leads to a customer filing a Suspicious Activity Report (SAR). Adverse Media is provided in real-time with resources that enable support by providing high-precision results. Adverse Media for high-risk customers supports a robust risk management strategy.
On the other side, the EU's Anti-Money Laundering Directive (4MLD) requires firms to make advanced CDDs for high-risk customers, open-source, or Adverse Media searches. As part of the risk processes of financial institutions and other corporate organizations, there are regulations such as the EU's 4th AML directive, the Financial Crimes Protection Network (FinCEN), and the Customer Due Diligence Requirements for Financial Institutions as defined by the Risk Factors Guidelines. It also suggests verifiable Adverse Media searches as part of customer risk assessments in the Financial Action Task Force (FATF) 40 Recommendation. It highlights the need for financial institutions to understand the customer's reputation when building relationships.
Adverse Media Scan is a service that allows you to search for adverse media and negative news about a person or a business. Adverse Media Scanning, an important part of Know Your Customer and Anti-Money Laundering processes, enables businesses to identify and protect them from risks. With Adverse Media scanning KYC / AML support, it manages personal data and enables the processing of the identity data set, and powerful personal data management tools, automated documents, and biometric verification allow the customer to access the service more quickly, giving you more attention. Adverse Media scanning can deal with and interpret large amounts of data. However, Adverse Media Scan software is designed to scan or verify news and media sources for authenticity and reliability.
Adverse Media screening has more than one category. We have listed these catalogs below.
Thousands of new news are published every day in the world, so businesses can't check thousands of latest news in different languages using classical methods. Adverse Media Scanning software scans thousands of different news items published daily and classifies negative news with the support of artificial intelligence. Businesses can scan their customers and partners in Adverse Media data in seconds using Adverse Media Screening software. Global comprehensive Adverse Media data from Sanction Scanner includes news about money laundering, terrorist financing, corruption, bribery, human rights violations, arms trafficking, drug trafficking, and tax evasion.
Businesses perform Adverse Media control and support AML compliance processes, in addition to business sanctions and PEP scans in Customer Onboarding processes. With our global comprehensive Adverse Media data, we enable companies to identify risks in customer account opening processes. With Sanction Scanner, companies can perform Adverse Media audits with Customer credentials, meet Enhanced Due Diligence requirements, and perform API files or batch files audits over the web. You can contact us for more information.
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