Accuity Launches First-to-Market Trade Finance Screening Solution


Today Accuity announced the first-to-market sanctions/counterterrorist financing screening solution for the trade finance industry that includes a Dual-Use and Controlled Goods List.

To assist institutions with solving challenges related to dual-use and controlled goods screening, Accuity has built a new matching algorithm within Compliance Link, its end-to-end solution that allows firms to centralize all of their screening processes. The Commodities List Manager enables institutions to create, edit and manage internal or private watch lists in addition to Accuity’s standard list, helping maximize screening efficiency. The screening solution allows users to perform all sanctions checks including sanctioned ports and vessels, dual-use, controlled and high-risk goods, within one tool.

In order to comply with regulations and ensure dual-use goods are not being shipped to restricted regions, financial institutions employ time-intensive and error-prone manual processes. Accuity’s new trade finance screening solution provides organizations with the ability to:

  • Categorize and flag what might be prohibited in certain countries and ports in an updated, automated fashion with a centralized audit trail
  • Search for and identify products and technologies that are dual-use or high risk in nature.
  • Access reliable and up-to-date information based on the European Union’s (EU) export control regime, which has been adopted by additional international export control regimes.

According to Henry Balani, who leads the global compliance businesses for Accuity as Managing Director, “Screening of import and exports has become a main area of focus for the trade finance industry as organizations work to comply with anti-money laundering and counterterrorist funding regulation in an increasingly complex environment. The manual screening process can be quite challenging and the risk of human error could lead to hefty fines, not to mention potentially devastating outcomes. The depth and breadth of the new Dual-Use and Controlled Goods List is unprecedented and the automation of Accuity’s trade finance screening solution promises to revolutionize the way institutions operate within the shipping and trade finance spaces.”

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