LexisNexis Bridger Insight has been launched into the UK to support compliance processes. The service provides watch list and sanctions screening capable of batch checking high volumes of data in a single search. The company currently supports nearly 4,000 clients in the US and Europe.
Compliance with Money Laundering Regulations 2007, obligations under the Counter Terrorism Act 2008 and pressure from the Financial Services Authority are all requiring more robust sanctiosn screening. The service includes data from HM Treasury, FBI, World Bank and United Nations.
Dan Marshall, commercial cirector at LexisNexis, says: “LexisNexis Bridger Insight is proven to cut the cost of compliance by streamlining client on-boarding, drastically reducing false positives and significantly increasing the speed and effectiveness of the compliance process. We enable clients to run very high volumes of customer checks in a single search against constantly updated data.”
He adds: “This process can be run as frequently as required so that organisations can be confident of staying compliant. With the heavy fines and reputational risk of non-compliance, it is vital that businesses can screen clients and are alerted to take immediate action if a client suddenly appears on a prohibited list.”