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Compliance Guidelines: Canada
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Enable Easy Access to Offshore Leaks Insights
In the realm of AML compliance, Internationally Leaked Documents Screening is indispensable. It delves into offshore connections, screens vast volumes of leaked data, and elevates KYC/AML standards, ensuring thorough due diligence and unparalleled financial transparency. Equip your organization with this tool to stay ahead in compliance and trust-building.
Investigative Compliance
All-in-One Solution for International Leaks Database Detection
AML Watcher's Internationally Leaked Documents Screening Solution is a powerful tool designed to help businesses and financial institutions gain valuable insights into potential high-risk customers or entities engaging in illicit financial activities.
Global Coverage
Keep yourself informed with regular updates on potential risks associated with your clients and business partners with easy access to international leaks.
Real-time Updates
Stay updated with real-time and reliable alerts on any new information revealed about your customers and partners.
Comprehensive Analysis
Harness the power of advanced AI/ML algorithms that let you effectively search through vast amounts of information in no time. Stay updated with in-depth AML risk analysis with AML Watcher.
Automated Reporting
Reduce the burden of compliance teams and MLROs with AML Watcher’s automated reporting mechanism that lets you generate comprehensive reports with a single click.
Screen Offshore Connections with Ease
Simplify AML compliance by harnessing information from International offshore leaks database, letting you effectively score customers based on the actual risks.
Screen with Precision
Reduce not only false negatives but also false positives with AML Watcher’s advanced ML algorithms backed by AI and ensure precision and accuracy.
Advanced AI/ML
Leverage latest AI/ML models to accurately and efficiently adapt new trends in AML compliance with the comprehensive AML solution.
Customizable Compliance
Tailor AML Watcher to your needs with custom risk scoring engine, matching algorithms, screening parameters and much more.
Reliable Insights
Stay updated with the latest insights and trends in the AML compliance industry with a dedicated team of compliance experts specifically focused on providing you with latest updates.
Diving into Data
Identifying Ultimate Beneficial Ownership Made Convenient
International leaks and revelations, cases in domestic and international courts and reports in the media all suggest the need to unravel hidden networks of beneficial ownerships and their international linkages with businesses and shell corporations. AML Watcher lets you navigate, with ease, the complex and hidden network of secrets behind money laundering.
Millions
of Leaked Documents
Global
world leaders
Hundreds
of top executives
Thousands
of shell companies
Understanding the Problem
The Panama Papers Incident
In 2016, the Panama Papers leak exposed many entities involved in potential financial wrongdoings. Organizations that failed to screen against such leaked documents faced reputational damage and regulatory scrutiny.
Challenge
The estimated amount of money laundered globally in one year is 2-5% of global GDP which is more than $2 trillion in current US dollars as per the United Nations Office on Drugs and Crime (UNODC). Back in 2016, the Panama Papers brought to light the extensive utilization of shell companies for money laundering across various countries on a global scale. The documents that were leaked disclosed that these shell companies were established in regions with lax regulatory frameworks, such as the British Virgin Islands and the Cayman Islands. A substantial number of these enterprises had connections to PEPs and RCAs. Without a robust system to screen against such leaks, organizations risk associating with entities involved in financial malpractices.
Solution
AML Watcher's International Leaked Documents Screening provides:
- Comprehensive Screening against Leaked Confidential Data
- Detailed Analysis and Reporting of Declassified Documents
- Expert Insights for Better Decision Making
Gain Consolidated Insights In Seconds
Analyze the complex hidden UBO Structures pivotal in enhancing compliance strategies. using AML Watcher’s advanced technology and expert analysis.
Pandora Papers
Pandora Papers are sourced from the documents of two offshore service providers included in the Pandora Papers dataset: Alemán, Cordero, Galindo & Lee (Alcogal) and Fidelity Corporate Services. Subsequently, in April 2022, data from Alpha Consulting was added, followed by the addition of data from Asiaciti Trust Asia Limited, CILTrust International, Commence Overseas Limited, IlShin, Overseas Management Company Inc, SFM Corporate Services, and Trident Trust Company Limited in May 2022.
Paradise Papers
The data found in the Paradise Papers originates from two main sources: the offshore law firm Appleby and a substantial collection of data obtained from seven corporate registries. Specifically, the Appleby data was incorporated into the dataset in November 2017, while the data from corporate registries, including Aruba, Bahamas, Barbados, and Nevis, was added in December 2017. Furthermore, data from the Cook Islands, Malta, and Samoa registries was included in February 2018.
Bahamas Papers
The Bahamas Papers dataset is derived primarily from records associated with the Bahamas, shedding light on offshore financial activities in this jurisdiction. It encompasses information from Bahamas corporate registry, offering insight into financial dealings conducted within the Bahamas.
Panama Papers
The data contained within the Panama Papers originates from the Panamanian law firm Mossack Fonseca, whose internal operations were revealed through an investigative effort led by the German newspaper Süddeutsche Zeitung in collaboration with over 100 media partners.
Offshore Leaks
This dataset encompasses a segment of offshore entities that were established via Portcullis Trustnet (Portcullis) and Commonwealth Trust Limited. These two offshore service providers came under scrutiny as part of the 2013 Offshore Leaks exposé conducted by the ICIJ (International Consortium of Investigative Journalists).
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FAQs
Frequently Asked Questions
What is an Offshore leaks database?
This database is a complete repository of leaked documents consisting of data obtained from authorized law firms and corporate service providers and information about UBOs and associated entities for facilitating legal and AML investigations.
How do you ensure value for money while choosing the right AML Software?
Compare features and custom capabilities against your specific needs. Analyze if the software aligns with your targeted compliance needs while simultaneously assessing the total cost of ownership, as the potential cost saving comes with the selection of a custom screening service rather than opting for a default screening solution.
How do you choose an AML software solution?
Choosing the right AML software solution is based on the unique needs of every business. Evaluating product features such as simplicity, ease of integration, user-friendliness, scalability, and real-time screening might help you make a better decision.