Data accuracy and integrity are crucial to the effectiveness of your risk management.
Every day public authorities publish the names of individuals and entities that have operated illegally. The offence may be administrative, criminal or both such as for example conducting financial transactions without a valid licence or via a cloned entity to defraud investors. To protect you from the risk of trading unknowingly with criminals or people subject to administrative measures, SGR Legal Enforcement™ detects and collects information from 220 selected legal enforcement authorities overseeing the nodes of the worldwide network of financial transactions. You will find precise information about the negative event that is relevant to your risk management, including the source originating the warning.
SGR Legal Enforcement™ includes all up-dated information about Government and International Sanctions such as UN, OFAC, EU. These measures range from comprehensive economic and trade sanctions to more targeted measures such as arms embargoes, travel bans, and financial or commodity restrictions. For instance, there are presently multiple ongoing UN sanctions regimes which focus on supporting peaceful settlement of conflicts, nuclear non-proliferation, and counter-terrorism. Each regime is administered by a sanctions committee, and we constantly monitor their releases to keep our costumers fully compliant at all times. Similarly, the US Office of Foreign Assets Control ("OFAC") sanctions programs may be broad-based and oriented geographically (i.e. Cuba, Iran) or “targeted” (i.e. counter-terrorism, counter-narcotics) and focus on specific individuals and entities using the blocking of assets and trade restrictions to accomplish foreign policy and national security goals. OFAC administers a number of different sanctions programs that are contained in our Legal Enforcement database including the List of Specially Designated Nationals and Blocked Persons (SDN List).
Additionally, the results of emergent forms of journalism, such as Panama Papers, are included in our database, with the names and details of people connected with more than 214,000 offshore companies. Certain selected geographical areas are also screened for adverse media reports.
Make sure your organization has a strong compliance policy based on the right information, since failing to identify and block a target account (of a terrorist, for example), could have serious consequences and negative publicity.