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Compliance Catalyst

Compliance Catalyst. Brussels, September 2013. Definition. Compliance Catalyst. Money laundering is the processing of these criminal proceeds to disguise their illegal origin, making them appear legitimate. Impact $500bn-$1 trillion laundered a year globally

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Compliance Catalyst

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  1. Compliance Catalyst Brussels, September 2013

  2. Definition Compliance Catalyst Money laundering is the processing of these criminal proceeds to disguise their illegal origin, making them appear legitimate. Impact $500bn-$1 trillion laundered a year globally The goal of a large number of criminal acts is to generate a profit for the individual or group that carries out the act. Much of the proceeds of money laundering is channelled into further organised crime and terrorism. Risk Doing business with criminals and terrorist leads to huge fines and possible imprisonment. September 2013

  3. Key concepts in Compliance Compliance Catalyst Beneficial ownership Requirement to take reasonable measures to verify the identity of the beneficial owner. This should include reasonable measures to understand the ownership and control structure of the customer. Source: FATF Beneficial owner’ refers to the natural person(s) who ultimately owns or controls a customer and/or the person on whose behalf a transaction is being conducted. It also incorporates those persons who exercise ultimate effective control over a legal person or arrangement. Source: FATF Usual threshold : direct/indirect ownership/control over 25% September 2013

  4. Key concepts in Compliance (2) Compliance Catalyst Politically Exposed Persons PEPs are individuals who are or have been entrusted with prominent public functions in a foreign country For example: Heads of State or of government, senior politicians, senior government, judicial or military officials, senior executives of state owned corporations, important political party officials. Source: FATF September 2013

  5. WorldCompliance data Compliance Catalyst WorldCompliance records cover high risk entities, such as sanctioned entities and PEPs About 2 million records covering mainly individuals 100,000 records covering organisations, banks, vessels 45% of these records have at least 1 potential match with BvD records Compliance Catalyst offers Access to the list of suggested matches  access to the WorldCompliance record Further search facility within WorldCompliance database (reserved to joint clients) Paying access, either subscription or transactional September 2013

  6. Pre-calculated risk Compliance Catalyst A model is predefined and allows “automatic” calculation of the risk associated with the company, based on : Listed /unlisted status Ownership information, such as State owned company Beneficial owner information Level of risk of the companies in the corporate group: Country Sector WorldCompliance records matched against these companies Directors information available Existence of PEPs (beneficial owners or directors) The analyst can further refine and detail in order to make his decision. September 2013

  7. Decision model Compliance Catalyst Definition of the model by client administrator • Selection of processes included in the client model(s) • Definition of the weights per process and per type of risk • Definition of the scores allocated to each risk factor (country, sector, WorldCompliance categories) • Definition of custom processes, using Orbis data and / or custom data September 2013

  8. Settings Compliance Catalyst • Account and general options • Models & processes, including options • Resources: Catalyst resources + Custom resources, Exchanges and Regulators • Scores & risk classes (including definition of review date) • Naming conventions ( Analysis, Client ID, Engagement ID) • Type of work • Monitoring options • Permissions • User input forms September 2013

  9. Portfolio Compliance Catalyst The portfolio contains saved engagements and analyses • An engagement comprises 1 or several analyses related to a same type of work • The decision to accept a client is taken at level of the engagement • The decision will be reviewed periodically. Archives will be created each time a decision is taken. • Monitoring of the engagement starts once a client is accepted. Alerts will be displayed within the engagements page (alert icon) September 2013

  10. New features – Summer 2013 Compliance Catalyst • Launch a search - Orbis (120 million companies) WorldCompliance (2 million entities) (reserved to clients with subscription to WorldCompliance) - Creation of own entities • Beneficial owners and Directors processes: - addition of names  search for matches within WorldCompliance database • Client on-boarding process - Initial load of client’s portfolio • Initial acceptance/rejection process • Initial monitoring options September 2013

  11. Plans Compliance Catalyst End Sept • Permissions and user profiles • Audit trail • User input forms End 2013 • Dashboard – Workflow management Later • On-site implementation: for big clients. Software is installed on-site, protecting their data is a key point. • Integration & Customization: access to external information systems, create custom screens. • FACT-like projects. September 2013

  12. Compliance Catalyst Pricing Standard Non-standard sale - Integration A variety of integration options are also available, subject to client budget. + + (Optional – full access) (20% of Orbis) Unlimited downloads per named user Corporate - 2 users - per additional user up to 10: - per additional user above 10: Financial Institutions - 1 user: - 2 users: - per additional user: Consultants - per user: • EUR • 4,100 • 1,200 • 1,000 • 1,990 • 3,600 • 1,000 • 3,000 12 September 2013

  13. Request for access to Compliance Catalyst Compliance Catalyst •Trials can be set by the BvD offices •Paying access can be granted by BvD Brussels You create the client + users on the admin site  Then contact invoices@bvdinfo.com  Clearly indicate the client name as on the admin site  Precise the type of access requested • WorldCompliance access: Limited to named users Granted by BvD Brussels Please send requests to Neil +invoices@bvdinfo.com, and mention the names of the “named users”  Trial access limited to 1 month September 2013

  14. Contacts and support Compliance Catalyst •Neil Farquhar is our Compliance specialist •Contacts in Brussels Andrée Genot: quality control and user support Rita Delacroix : product manager Audrey Simonian and Sophie Karassavidis: access granting September 2013

  15. User support Compliance Catalyst Levels • First line: BvD local office • You can contact Neil Farquhar for all questions related to Compliance. This also covers points related to the “Settings” • For more “technical” questions or trouble shooting, you can contact Brussels (Andrée / Rita) . Please also copy Neil. If you cannot solve the issue, we need the following information - user login - date and time when problem occurred - confirm whether or not you reproduce the issue September 2013

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