There are no shortage of screening system for Anti-Money Laundering/ Countering the Financing of Terrorism (AML/CFT). Why choose Ingenique Solutions? Here are the top five reasons:
REASON ONE: Pay for UNIQUE name searches
Unlike many providers that also sell search credits, SentroWeb only deduct credits for unique name search and not per search. This means that if the same name is searched multiple times, instead of paying for each search, there will be no credit deduction for the same name. So go ahead, screen your clients as often as you like!
REASON TWO: REPUTABLE AML/CFT data sources
In the age of social media and data analytics, the internet is flooded with all sorts of true and untrue information. This has made screening for customer due diligence more difficult and time consuming. Hence, it is important to use data from reputable data sources. SentroWeb only uses data from reputable data vendors like Dow Jones and Acuris Risk Intelligence, because we know that unreliable and unverifiable data waste money and time when there are too many false hits. Reputable data vendors like Dow Jones and Acuris Risk Intelligence not only use licensed contents, they have their own in-house research teams to curate and verify information collected from licensed public sources. There is not illegally acquired data or data that you have no permission to use.
Ingenique Solutions has been a trusted partner and reseller with Dow Jones and Acuris Risk Intelligence for many years. To ensure that you are using licensed content, ask us for the Authorised Reseller Letter from our data vendor.
REASON THREE: ONGOING MONITORING screening on PEP, sanctions and adverse media
SentroWeb data is updated daily. When we perform ongoing monitoring, we cover worldwide Politically Exposed Persons (PEP), the Relative and Close Associates (RCA) of PEP, sanctions, and adverse media, and not just a small subset of open source sanctions. This is important as unlike sanctions, there are far more changes in information concerning PEPs, RCAs and adverse media compared to sanctions. From our experience, many of our clients have flagged their customers when they are notified by our ongoing monitoring when their customers become PEPs, or have been charged for money laundering offences abroad.
REASON FOUR: DATA PRIVACY of your customers’ data
Data privacy is of utmost importance in Ingenique, as our users store their customers’ data on our system. Once on our system, we do not route your data to third parties for screening. We developed our own search engine, and we download data from our data vendor to our system for search. In addition, we deployed layered defence to ensure that your data is secured at each stage – for instance by encrypting sensitive personal data at two layers when stored on our system.
REASON FIVE: TRUSTED ADVISOR for your AML/CFT compliance
Ingenique Solutions has been the AML/CFT compliance business since 2014. Over the years, we are grateful to our customers for giving us the opportunity to serve them. To date our 1,600 over customers span across Singapore, Hong Kong, Malaysia, China and Taiwan; and they include a Ministry in the Singapore government, public listed companies, top leaders in the public accounting, legal, company service providers, real estates, precious stones and precious metals dealers. The journey is not easy, and our small team is laser focus in being a trusted advisor to our customers from products (we do not outsource our software development) to services.