Fourth Directive has increased the requirement for certain bodies to implement Customer Due Diligence - CDD. The gambling sector and high value goods traders are now included, as well as a lengthy list of company categories and natural persons presented in a previous post. Minimum and basic CDD measures is filtering customer’s name/title and personal/company details against the international Sanctioned Designated Nationals – SDN List such as OFAC SDN & Blocked Persons List, EU Consolidated List, UN Consolidated List, FATF NCCT List, FAFT AML/CFT List and other SDN Lists.
Names filtering will prevent an obliged entity of having as customers and/or doing business with persons/companies which are debarred and sanctioned due to their involvement in money laundering, financing terrorism, narcotics trafficking, weapons of mass destruction proliferation and other threats to the national security, foreign policy or economy of European Union and cooperating countries such as United States.
CubeIQ is providing AML On-Line™, a Software as a Service, for on-line names filtering against a number of SDN Lists that can be used by Non-Financial institutions, casinos, on-line gambling companies, high value goods and commodities traders and brokers, commercial companies, high value products manufacturing companies and exporting to filter their potential customers against SDN Lists.
For more information on CubeIQ’s AML On-Line™ SaaS please visit AML/AML On-Line™
For Anti-Money Laundering, Fraud Management and Compliance Solutions please visit www.aml.gr.