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| Name | Adverse Media Screening Process | AML UAE |
| Video Uploader | Video From AML UAE |
| Upload Date | This Video Uploaded At 14-03-2024 13:01:29 |
| Video Discription | Hello AML Enthusiasts, We understand that adverse media screening is one of the important measures of the customer identification process. In this video, we will go through all the methods of adverse media screening whether it's through internet, or using social media, or some tools. We will also discuss how to proceed with business relationships based on the adverse media screening results. But before getting into detail, let us understand what exactly the adverse media screening process is. Adverse Media Screening is essential component of customer due diligence process that helps in gathering additional information necessary to establish the customer's identity and avoid onboarding the ones who are known to be involved in money laundering and other financial crimes. To get started, the regulated entity needs to collect government-issued identity documents such as a passport or Emirates ID. One needs to match the information provided in these documents with the information contained in the adverse media or negative links identified during the research and determine whether these are true hits or false positives. Now, let's get into each way of conducting adverse media screening. The first way to conduct the research is through multiple search engines, such as Google and Bing. One needs to search for the name of the prospect or customer along with the word strings that contain all the relevant words necessary to confirm the existence of the negative media. Two such strings are shown on the screen. We have also mentioned these strings in the description box. 1) launder OR fraud OR bribe OR corrupt OR arrest OR blackmail OR breach OR convict OR court case OR embezzle OR extort OR felon OR fined OR guilty 2) illegal OR imprisonment OR jail OR kickback OR litigate OR mafia OR murder OR prosecute OR terrorism OR theft OR unlawful OR verdict OR politic OR sanctions Please note that this is an illustrative list of such keywords and the regulated entities may modify the same according to their AML/CFT program. By conducting these searches, employees gain results having any of these trigger words associated with a person having the same name. The next way of conducting the screening is through software. While selecting the right tool for adverse media screening, check for the quality and repository of the data against which the screening is conducted. When using screening software, you only need to put the name, and it will provide you with the adverse media details related to the person and associated sources. Then, one can check these details and conclude the customer's identity and the involvement or connection with financial crimes. Adverse media screening through software is one of the fastest and most efficient ways of conducting screening. Another way is to conduct research through social media platforms such as LinkedIn, Facebook, or Instagram. You can search for the name of the person and verify the profile details based on the key identifiers of the customer, and the social profile pops up. Now, check if the person is tagged in any negative posts. You can also look for negative hashtags and pages running against them, which leads to the suspicion that the person may have committed or been involved in a financial crime. Now, let's check that what actions you must take based on the adverse media screening results. 1) In Case of Match Found: If you find a match while conducting adverse media screening, you must thoroughly evaluate the details, including the nature of the negative news and severity of the same. Given the presence of adverse media, classify the customer as "high-risk," considering all other risk assessment parameters and apply Enhanced Due Diligence measures. 2) In case of no match or false match, the business can onboard the customer and establish a business relationship. This onboarding decision does not solely depend on adverse media screening but takes into account the other identification details and the transactional parameters. So, these are the three methods that you can use to conduct adverse media screening and how to take action accordingly. We hope that this video is helpful for you in understanding this critical step of customer due diligence. Timestamps: 0:00 Introduction on Adverse Media Screening Process 0:33 What is Adverse Media Screening Process? 1:12 What is the process of Adverse Media Screening? 1:38 How to conduct Adverse Media Screening through multiple search engines? 2:16 How to conduct Adverse Media Screening through software? 2:53 How to conduct Adverse Media Screening through social media platforms? 3:23 What actions need to be taken based on the adverse media screening results? 4:07 Conclusion and Regards #AMLUAE #adversemedia #customerduediligence #cdd #amlcdd #AdverseMediaScreening #antimoneylaundering #amlcompliance #EnhancedDueDiligence #edd #amledd #eddmeasures [qnzcm8-YcHI] |
| Category | People & Blogs |
| Tags | AML | AML Compliance | Anti money laundering | AML UAE | AMLCFT | adverse media screening | adverse media check | adverse media | adverse media search services | adverse media screening kyc | adverse media screening aml | adverse media aml |
