Helping you to maintain a Risk-Based Approach across the client workflow
LexisNexis® Risk Solutions can help you apply a risk-based approach to managing money laundering risk across the client workflow, without adding friction for your clients or fee earning colleagues. Our combination of trusted data, advanced analytics and intelligent technologies will support your CDD controls; enabling robust identity verification, ongoing monitoring of clients and in-depth enhanced due diligence. Through a single trusted relationship you can create strong, yet client-friendly AML controls across your workflow, minimising your organisation’s exposure to money laundering risk and supporting business growth.
Activities you conduct...
Conflict checks
Conduct comprehensive Client Due Diligence including Know Your Client checks, Source of Funds and Source of Wealth checks and Enhanced Due Diligence, as required
Identify Beneficial Owners
Assess client risk (including evaluating their associates)
Apply a Risk-Based Approach
Maintain a compliance audit trail
...how we help
Identity document authentication checks (incl Passport, Driving license etc…)
Level 1 compliance checks: PEP, Sanctions, Adverse Information, Enforcements
Corporate registry checks incl. Persons of Significant Control register (PSC)
Level 2 deep dive checks through web-based platform or integrated solution
Extensive global risk databases and compliance checks via a single provider
Retain a record of the checks you have conducted for future audit and evidencing your controls
Decrease false positive rates to increase efficiency and reduce client friction
Activities you conduct...
Monitor the risk category of client – low/medium/high
Identify change in client risk profile prompted by trigger events (new matters/events/address changes/additional data/cases related to client); risk assess and reapply CDD measures as appropriate.
Apply a Risk-Based Approach
...how we help
Automated watchlist screening including Sanctions, PEPs, Adverse Information and Enforcements, calibrated to your risk appetite
Delta screening to highlight any change in client data or risk data, allowing for the risk assessment to be revisited
Provision of watchlists and other risk information in standalone data files that can be integrated into existing case management systems
Corporate registry checks incl. Persons of Significant Control register (PSC)
Level 2 deep dive checks through web-based platform or integrated solution
Activities you conduct...
Evaluate the risk associated with the instruction
- Conduct remediation when required due to a significant change in risk
- Ensure any remediation activity is swift and client friendly
Re-evaluate the risk associated with the client
- On rare occasions, repeat CDD to the same level as a new client
Apply CDD checks for cross jurisdiction matters where the territory of origin does not have CDD requirements equivalent to the UK
...how we help
Electronic identity verification and authentication solutions, including remote ID checks with facial biometric analysis
Identity document authentication checks (incl Passport, Driving license etc…)
Level 1 compliance check: PEP, Sanctions, Adverse Information, Enforcements
Corporate registry checks incl. Persons of Significant Control register (PSC)
Level 2 deep dive checks through web-based platform or integrated solution
Access critical risk assessment information in a way that suits your business
However you wish to access risk information, LexisNexis Risk Solutions can help you to do so from a single, trusted source.
Find out how we can help you meet your AML obligations, whilst keeping clients and fee earners happy
Book a free, no-obligation consultation to find out more.
Who is LexisNexis® Risk Solutions?
LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based analytics and decision tools for professional and business customers. For more information, please visit risk.lexisnexis.co.uk and relx.com.
