Know your Customer

Know your Customer

Finanzintermediäre und einige andere Branchen sind gemäss Geldwäschereiverordnung regulatorisch verpflichtet, gewisse Verfahren zur Vermeidung von Geldwäscherei-Transaktionen einzuhalten.

ComplianceCHECK

The relevant businesses and enterprises (financial intermediaries and some other sectors) have a regulatory obligation according to the Anti-Money Laundering Ordinance, to comply with certain procedures to avoid money laundering transactions. Among others, it has to be checked by appropriate means if the beneficial owners and/or the controllers of the legal contracting party are politically exposed persons (PEP). Furthermore, it has to be checked if the company or persons are registered in what is known as sanctions lists.

How does the ComplianceCHECK work

The purpose of the ComplianceCHECK is to verify the names of the natural or legal person about whom information is solicited, as well as their respective bodies, so as to detect possible hits in the PEP and sanctions lists and in the Watch&Blacklist at the time of delivery of the information. When a hit has been found, a dedicated link makes it possible to display the details of the hit. Where required, the ComplianceCHECK and/or the details of the hit can be documented in PDF format.

PEP lists Sactions list Watch & Blacklist

A politically exposed person (PEP) is a politician, or a person in the immediate environment of a politician, who is subject to more stringent requirements in terms of money laundering than a normal citizen. (Source, German: Wikipedia, July 2016)

At Creditreform we use the data provided by our partner info4c for checking within the ComplianceCHECK. This database we use is the most comprehensive list of its kind and includes the most important persons of more than 240 countries and territories of the world. 

  • Comprehensive and worldwide coverage
  • Designed for and in line with the regulatory requirements of the Anti-Money Laundering Ordinance
  • Alternative characters (Cyrillic, Arabic, Mandarin, etc.)

The ComplianceCHECK also checks persons known as ExPEP, where the feature is dated less than or up to 2 years ago.

Official national lists of persons or organisations against whom legal restrictions have been pronounced.

High-quality, complete and up to date. The lists are checked by Compliance specialists in order to guarantee compliance with the requirements of the regulatory authorities.

  • Sanctions lists are published by regulatory authorities and other official national and international organisations and institutions.

International ‘alert reports’ on companies or persons, provided by financial authorities and entities responsible for financial supervision, as well as wanted lists of police authorities, governments or national and international investigation authorities.

The Watch&Blacklist is a comprehensive tool composed of more than 1000 compliance and risk relevant lists from more than 80 countries:

  • High-quality data in line with the lists published by the authorities 
  • Anti-money laundering lists and anti-corruption lists
  • Announcements, publications with regard to consumer protection and warnings/alerts of financial authorities from around the world
  • CEOs banned from exercising their profession, companies excluded, sanctioned companies and individuals
  • Special country or subject specific lists (i.e. persons associated with the mafia, companies using slave work, etc.)
  • Lists of international tribunals, listings of international warrants of arrest, persons wanted nationwide, regional ministerial warnings, police warnings, and other warnings

Strong partner

Our partner info4c has its core competence in collecting and processing the relevant lists. The data is delivered at regular intervals and thus flows into our integrated information products.

> more information

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