Anti-Money Laundering and Fraud

 

Today’s financial criminals have become very sophisticated in the ways in which they hide assets, launder money and commit complex financial fraud.

This comes at a time when federal regulators are pressuring small and mid-size banks to increase their due diligence efforts (and are penalizing those who fail to do so).  The threats to reputations and by shareholders, the media and consumer protection agencies have added another level of urgency to improving AML/Fraud capabilities.

6 Degree Risk enables investigators to research connections between individuals and businesses through automated mining of the dark web and public data sources. This yields visual representations of relationships and networks that can:

Uncover domestic and offshore shell companies, straw buyers and other suspicious businesses and associations

Comply with Bank Secrecy Act KYC, Economic Sanctions and Customer Identification Program (CIP) mandates

Manage due diligence workflows more efficiently and effectively

6 Degree Risk can save up to 30% in investigative time and unearth previously unknown relationships multiple layers below the “first degree.”

6 Degree Risk multiplies the speed and scale at which you can understand and evaluate the corporate linkages and beneficial ownership of your customers, vendors and partners’ businesses.  Among the discoveries that it helps to facilitate are: 

Relationships to marijuana-based businesses

Money Service Businesses

Insurance fraud

Hidden assets and associations

Politically Exposed Persons (PEP)

Office of Foreign Control (OFAC) sanctions

Panama Papers

Drug and High Risk Human trafficking

6 Degree Risk can assess risk factors for individuals and organizations with as little as a name, address or phone number – and you can get same-day start up on the cloud-based technology.