Business relationships with partners that pose compliance risks can easily result in serious reputational damages to the company as e.g. the accusation of aiding and abetting criminal actions.
The purpose of a compliance integrity check (CIC) is to fulfill current legal requirements in the areas of anti-corruption, anti-money laundering and fraud prevention. It ensures that business is not conducted with individuals or companies listed on international sanction or terrorism lists and identifies compliance risks in relationships to politically exposed persons.
Integrity Search (ISEA) technology enables the ONLINE SEARCH (ad hoc search) as well as a CONTINUOUS MONITORING of business partners based on the data regularly downloaded from a risk & compliance database for further internal processing (i.e. the checks are conducted on premises of the client)
The check is based on information obtained from a risk & compliance data provider identifying individuals and companies that pose compliance risks related to defined categories as e.g.
- fraud or
- money laundering as well as
- politically exposed persons (PEP)