Today, legal firms in the United States are facing growing expectations for Anti-money Laundering (AML), Know Your Client (KYC), and Financial Crime / Counter-terrorism Financing (CTF) compliance — increasingly mirroring the strict standards enforced in international jurisdictions.
As a result, in order to be effective, organizations must invest time and resources by creating and establishing new policies, evaluation processes, and by acquiring the best tools and data available.
Why should your firm upgrade legacy systems?
|Repetitive and manual verification checks for potential clients by internal teams||›||Automated screening and verification checks of potential and current clients. Improving efficiency in risk and conflict teams|
|Complex identification of relevant data – i.e. negative news, political exposed people (PEP) – using public data engines||›||Accurate data about individuals can be found in one central system, allowing for quick and precise results|
|Ongoing monitoring and management of the additional risk related matter data for any relevant changes requiring re-evaluating||›||Perform enhanced due diligence for on-boarding new clients, and monitoring current clients, to ensure accurate assessment of their risk profile|
By implementing forward-thinking solutions, Law Firms can expect:
Accuity supports the demanding challenges facing law firms with the industry’s largest, most up-to-date database of high-risk entities — including Sanctions, Politically Exposed Persons (PEP), Adverse Media, Enforcement and State-Owned Enterprise data. The information we make available covers millions of entities in 250 countries and territories, from 1,300 enforcement agencies and 30,000 Media Sources and all global sanctions lists.
This information can be integrated directly into existing business intake and conflicts software –including purpose built specialist solutions and practice management system modules – or, it can be accessed through our intuitive, online search and reporting tools.
Contact one of our specialist to learn more about how Accuity helps Law Firms to address critical risk and compliance challenges.