AcuityTec Strengthens AML Data With New PEP and Adverse Media Insights

MONTREAL / ACCESSWIRE / September 26, 2024 / AcuityTec, a leader in risk management and compliance solutions, has announced a significant expansion of its compliance data hub, powered by ComplyAdvantage. The newly added services - Anti-Money Laundering (AML), Politically Exposed Persons (PEP) screening, and adverse media verification - enhance AcuityTec's platform, offering businesses a more powerful solution to detect financial crime, stay compliant, and mitigate risk.

AcuityTec Expands AML Data

Building on its successful integration of ComplyAdvantage's sanctions watchlist screening, AcuityTec now equips businesses with an even more comprehensive toolkit. The inclusion of PEP screening and real-time adverse media monitoring enables organizations to identify high-risk individuals, track critical developments in global news, and ensure compliance with evolving AML regulations.

"Financial crime is evolving rapidly, and the regulatory environment is more demanding than ever. By expanding our relationship with ComplyAdvantage, we are giving our clients a significant advantage in maintaining a healthy and compliant portfolio - mitigating risks associated with politically exposed individuals, negative media coverage, and changing sanctions lists," said Alfredo Solis, Managing Director at AcuityTec.

Bolstered Sanctions Screening

AcuityTec users can screen individuals and entities against various global sanction lists in real-time, staying compliant with evolving international regulations. This expanded service includes automatic updates from key regulatory bodies, such as the Office of Foreign Assets Control (OFAC), His Majesty's Treasury (HMT), the European Union (EU), and over 60 jurisdictions.

PEP Screening for Heightened Risk

"Politically Exposed Persons, due to their influential public roles, are at a higher risk for involvement in financial crimes like bribery or corruption. Our enhanced solution offers precise identification, even when dealing with complex naming conventions, variations, and aliases," adds Solis. "With continuous updates reflecting election results and appointments, businesses receive timely, relevant insights. The solution's global coverage is also adaptable to specific jurisdictions, allowing companies to focus on relevant risks, reduce false positives, and make more informed, precise risk assessments."

Adverse Media for Early Risk Detection

"By introducing adverse media verification with significantly extensive global coverage, we're empowering our clients to identify potential risks across global media sources before they even hit mainstream headlines," added Solis. Multilingual machine learning detects threats across languages and regions, offering broader coverage and quickly identifying individuals or entities involved in criminal activities, fraud or misconduct. Enriched profiles provide contextual details, such as birth dates, locations, and summarized media snippets, delivering deeper insights for faster decision-making.

A Full-Compliance Ecosystem

With its next-generation machine learning and adaptive fraud defence technologies already in place, AcuityTec enhances its clients' precision, confidence, and agility in managing risk by leveraging new AML data. This integration strengthens their ability to meet global regulatory demands while improving overall risk detection. "Our goal is to ensure clients are equipped with the most comprehensive and compliant solutions, making financial crime risk management more efficient and effective," Solis concluded.

To learn more about AcuityTec's compliance and risk analysis, contact a representative or book a demo today.

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Contact Information

Alfredo Solis
Managing Director
[e-mail]
[phone]

SOURCE: AcuityTec

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