6 06, 2022

Update: Russian Invasion of Ukraine – Sanctions

2022-06-07T13:26:18-04:00

Last Updated 06-07-22 For the latest information, Click here. June 2022 The US Treasury, State Department, and Department of Commerce freeze assets of more Russian individuals and impose financial sanctions as well as export controls by adding more parties to the Entity List. May 2022 The EU imposes its sixth major package of sanctions, which will eventually ban imports of Russian crude oil and petroleum products, with a temporary exception for some crude oil delivered by pipeline. Canada sanctions additional Russian individuals [...]

Update: Russian Invasion of Ukraine – Sanctions2022-06-07T13:26:18-04:00
12 08, 2021

Why People Are Exploring New Options with Compliance and Risk Management relating to global AML regulatory requirements

2021-08-12T11:16:53-04:00

While legacy providers have been around the longest, many of them have antiquated solutions that are no longer the best in the market. For that reason, people are beginning to explore new options when it comes to managing compliance risk. The industry has had to adapt and evolve particularly over the last year. With regulations changing frequently, and a record increase for money laundering and regulatory fines, which are expected to continue rising, there has never [...]

Why People Are Exploring New Options with Compliance and Risk Management relating to global AML regulatory requirements2021-08-12T11:16:53-04:00
25 06, 2021

AML Act of 2020

2021-08-04T12:51:11-04:00

Wealthy and influential individuals and companies have used anonymous entities to hide their wealth, as evidenced in the 2016 Panama Papers and 2020 FinCEN Files Investigations. In January 2021, the FY 2021 National Defense Authorization Act became law, including the Anti-Money Laundering Act of 2020 (AMLA 2020). Part of the AMLA 2020 is the Corporate Transparency Act (CTA). The AMLA 2020/CTA amends the Bank Secrecy Act (1970) (among other things) to require that companies (corporations, limited [...]

AML Act of 20202021-08-04T12:51:11-04:00
15 06, 2021

Protect Patients and Avoid Fines with Automated Medical Sanctions Checks

2021-08-04T12:50:47-04:00

A medical sanctions check provides insight into a healthcare professional's background, identifying any penalties, suspensions, or disciplinary actions against them. Regulatory guidelines from the U.S. Office of the Inspector General (OIG) mandate that healthcare organizations can't employ sanctioned vendors or individuals, meaning that anyone who employs medical practitioners, such as physicians and nurses, must conduct regular sanctions checks to avoid being penalized. Violating federal sanctions can result in hefty fines, suspensions, or even possible jail time, [...]

Protect Patients and Avoid Fines with Automated Medical Sanctions Checks2021-08-04T12:50:47-04:00
3 06, 2021

Adverse Media – A Better Picture of Risk

2021-08-04T12:50:19-04:00

Adverse media is defined as leveraging traditional and unstructured news sources as an early indicator of unfavorable information related to an individual or a business. Researching negative press is vital to overall risk management strategies and can be used as a financial crime compliance tool.  Unlike background checks, an adverse media search gathers information from various news outlets to help build a risk profile of individuals or businesses that your company may be considering doing business [...]

Adverse Media – A Better Picture of Risk2021-08-04T12:50:19-04:00
20 05, 2021

New, expanded VITAL4CRIM product provides industry-leading flexible data services

2021-08-04T12:49:43-04:00

Vital4 is excited to announce an expansion of our popular VITAL4CRIM screening services product. Optimizing your screening process is now easier with VITAL4CRIM, which streamlines the criminal database search process by collecting data from thousands of sources at the federal, state, county, and local levels. These sources include Arrest Records, Sex Offenders, Escapee lists, Warrant lists, Inmate rosters, Child Support Violations, Career Offenders, and dozens of others. This data is updated and collected in real-time to [...]

New, expanded VITAL4CRIM product provides industry-leading flexible data services2021-08-04T12:49:43-04:00
4 05, 2021

Hire With Confidence Using High Quality FCRA-Compliant Background Screening

2021-05-04T11:48:53-04:00

Pre-employment screening is a critical aspect of the hiring process today as it helps businesses find the best employees and ensure that the workplace is safe. Hiring unqualified or risky employees results in higher turnover, lower productivity, and increased compliance risk for your clients. Unfortunately, pre-employment screening can come with significant challenges such as incomplete coverage, missing key data points, or producing false positives that can jeopardize your business relationships. That's why Vital4 created a smarter [...]

Hire With Confidence Using High Quality FCRA-Compliant Background Screening2021-05-04T11:48:53-04:00
1 04, 2021

Optimize Your Global Watchlist and Sanctions Screening with AI-Powered Solution for Continuous Monitoring

2021-08-04T12:45:12-04:00

Best-practice compliance doesn’t stop after an initial screening. In fact, many global regulators require continuous monitoring to meet their standards for internal and third-party risk management. Governments and international organizations compile global watchlists to identify entities linked to crime, corruption, terrorism, money laundering, and other various forms of unethical behavior. Entities can include individuals, corporations, or even countries. Even if these entities aren’t actively committing a crime, they could be connected to suspicious activity. It’s crucial [...]

Optimize Your Global Watchlist and Sanctions Screening with AI-Powered Solution for Continuous Monitoring2021-08-04T12:45:12-04:00
4 03, 2021

AI-Powered Adverse Media Screening is Key to AML Compliance

2021-08-04T12:44:07-04:00

Adverse Media or “negative news” is any kind of bad or negative information about a  person or business from various sources. Adverse Media screening is a critical aspect of AML compliance as it can be an important early predictor for potential watchlists of sanctions listings, and media outlets and online sources can often identify risk with more agility than government or international watchdogs. Adverse Media screening helps identify and predict red flag behavior linked to money [...]

AI-Powered Adverse Media Screening is Key to AML Compliance2021-08-04T12:44:07-04:00
17 02, 2021

Outdated PEP profiles endanger your risk mitigation and compliance process

2021-02-17T16:21:02-05:00

Politically Exposed Persons (PEPs) are individuals connected to high-level government roles, either directly, through family members, or close personal and business relationships. PEPs are considered high-risk customers or employees due to their proximity to power, which offers more opportunities to engage in unethical or unlawful behavior, such as nepotism, money laundering, or embezzlement. There are many types of PEPs, such as Parliament members, key people working in supreme courts, high ranking military officers, or members of [...]

Outdated PEP profiles endanger your risk mitigation and compliance process2021-02-17T16:21:02-05:00
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