What Is Adverse Media?
Adverse Media (negative news) is any bad and negative information about the customer or business found in various sources such as newspapers, magazines, TV, radio, blogs, web articles, etc. They are usually news covering a brand, an individual, or a company in the commercial world. They might warn organizations against a possible high-risk customer. The risks associated with doing business with people or companies with an Adverse Media profile are very diverse.
Organizations must perform Adverse Media Screening & Monitoring in addition to the sanctions and PEPs scans to support their AML compliance processes. Adverse Media Screening is an essential part of Know Your Customer and Anti-Money Laundering processes . It helps organizations detect risks and take proper actions against them. Doing business with an organization or an individual with an Adverse Media profile showing signs of money laundering might make organizations face penalties.
Why Is It Important to Use Adverse Media?
Detecting high-risk customers based on Adverse Media reduces the workload of companies by lowering the rates of filling a Suspicious Activity Report . It also helps companies to build strong AML compliance. Following organizations that impose local/worldwide anti-money laundering compliance states the importance of Adverse Media:
- The EU's Anti-Money Laundering Directive (4MLD)
- The Financial Crimes Protection Network (FinCEN)
- The Financial Action Task Force (FATF)
You can click here to read more about why Adverse Media Screening is important for businesses.
What Is Adverse Media Screening and Monitoring?
Adverse Media Screening is a service that allows businesses to scan their customers on Adverse Media Data. It is an essential part of the Know Your Customer and Anti-Money Laundering processes.
It can:
- Detect the risks organizations' (possible) customers might bring.
- Deal with large amounts of data
- Verify news and media sources for reliability.
What Does Adverse Media Screening and Monitoring Includes?
Adverse Media Screening & Monitoring has lots of categories. Some of these are:
- Financing terrorist groups
- Financial crimes
- Violence
- Drug trafficking
- Human trafficking
- Cybercrime
- Fraud
- UBO
- Sexual offenses
Adverse Media Check
Thousands of news are published every day around the world. Organizations can't check all the news published in different languages, but they can use Santion Scanner's Adverse Media Data to comply with AML regulations. In addition, sanction Scanner's AI-driven software scans your business partners in different sources to find any negative information about them, if there is any.
Businesses can also scan their customers on Sanctions and PEPs lists during customer onboarding. Moreover, using the Sanctions Scanner, businesses can perform their Adverse Media checks via the API, web, or batch files you can contact us for more information.
