LONDON, June 16 /PRNewswire/ --
- Leading Investment Management Firm to Perform Sanctions and PEP Screening in Compliance with 3rd EU Directive
FinScan, a leading provider of sanctions list, PEP and heightened risk screening solutions for the financial services industry, today announced Ashburton (Jersey) Ltd, part of the FirstRand Group, a premier investment management firm serving an international client base, has gone live with the latest version of the FinScan hosted screening service. Subject to the jurisdiction of Jersey in the Channel Islands, Ashburton chose the FinScan Hosted compliance solution to help reduce enterprise risk and meet the heightened screening requirements of Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) regulations of the 3rd EU Directive.
The solution chosen by Ashburton includes FinScan's Hosted Screening service as well as a subscription to the FinScan List Management service. Ashburton will screen new and existing customers against the World-Check data file consisting of Sanctions, Politically Exposed Persons (PEPs), and Heightened Risk Entities data sources.
FinScan's intelligent matching will improve Ashburton's screening accuracy and help reduce the significant effort often required to review sanctions and PEP screening results.
Ashburton's Client Services Manager, Louise Wilson, commented that, FinScan's solution has been implemented efficiently and effectively. It is simple to use and the support staff are terrific. A great compliance tool.
This is an excellent application for FinScan's global capability, providing a single solution that can operate across multiple jurisdictions with a rapid implementation, said John Haley, FinScan sales and marketing manager. We look forward to working closely with the FirstRand Group in Jersey, Guernsey and South Africa to meet their compliance needs.
Used in thousands of projects worldwide, FinScan's robust matching engine facilitates the efficient and accurate screening of large volumes of records with very precise, user-configurable rules for flagging suspicious records. This process greatly reduces the risk associated with missing real matches (false negatives), and minimises the time and cost associated with researching false matches (false positives).
John Haley, Sales Marketing Manager (EMEA), +44(0)1483-730446, firstname.lastname@example.org / Logo: http://www.newscom.com/cgi-bin/prnh/20070319/CLM213LOGO