Complyadvantage (2)

Very pleased to have been alongside HSBC on panel talking about Adverse Media at the ComplyAdvantage conference.

Lots of good questions from the audience.

The last question was the best I think: “Sanctions, PEPs, Adverse Media, which is the most important. To recap – they are all very important.

Sanctions is the most important for avoiding a fine, but it is far and away the most inefficient process a financial institution performs, the chances of finding an SDN are literally one in a million.

PEPs is something you must do, and the way you do it is becoming more prescriptive with the 5th Money Laundering Directive, however the effectiveness of the process in terms of accomplishing the society outcome is debateable at best.

Adverse Media is the one that allows you to actually address real societal criminal outcomes, you have flexibility in approach that can target real concerns that do happen, yet it has the least regulatory oversight, perhaps those two things are connected?

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