Business organizations engaged in
international trade need to comply with a plethora of regulatory demands such
as anti-fraud, anti-money laundering, anti-corruption, anti-trust and bribery
prevention laws and regulations.
Furthermore, they also need to monitor
business partners, suppliers risk management and customers to identify potential risks and
avoid government investigations or costly litigations. Thus, without the aid of
advanced research tools, ensuring compliance is a tough nut to track.
LexisNexis HongKong offers high-grade compliance research
capabilities by combining intelligence from various sources into a single
database coupled with advanced search and reporting features. As a result, the
clients get robust Compliance Solutions and
are able to manage third party risks efficiently.
Some of the tools have been
listed here.
Compliance 360
Regulatory information meaning various legislations and regulations passed by various countries to govern international trade is crucial for business organizations to ensure compliance. The Compliance 360 is an effective business compliance tool to gather regulatory intelligence, receive timely alerts about changes in regulations, demonstrating compliance and monitoring compliance activities in the organization. Compliance 360 also monitors government regulations and their effects on the business operations of a client company.
Integra Check
Lexis Diligence tool provides company information databases to vet business partners, merger or acquisition targets, suppliers, contractors, franchises, etc. The database has every scrap of information from a company’s business dealings with another specific company to data revealing connection between two unrelated businesses. Legal history, bankruptcy records, history of sanctions and other such information can be searched using this tool.
In case, the research into Business information detects an entity
risk, it becomes essential to expand the diligence research and delve deeper
into the entity. Integra Check performs this task and manages compliance and
integrity risks. The reports include the following.
·
Complete anti-bribery and anti-corruption
assessment according to relevant laws.
- Reputational and risk management.
- Third party screening of suppliers, vendors and others.
- Investigations into fraud, embezzlement and financial irregularities.
- Investigations into other illegal practices such as infringement of intellectual property, illegal selling, price fixing, etc.
- Checking of instances of human rights violations.
- Screening of senior executives.
L
Diligence spotter
Diligence spotter automatically
identifies and screens new entities such as clients, partners and organizations
against international lists of sanctions, PEPs and Interpol. This helps in
accelerating the kyc compliance process.
The screening process also includes identifying the Beneficial ownership of a client company, understanding the nature
of the client’s customer relationships and monitoring the clients for
suspicious transactions.
Diligence spotter also provides
third party risk assessments by creating risk profiles for clients, suppliers
and agents. Classification is done according to geographical location,
activity, missing documents, etc. Supplier Risk Management or third party risk management helps in identifying
potential risks which need further investigation.
Apart from carrying out automatic
and detailed screening of companies and individuals, this tool enables the
client company to have a complete audit trail of the investigations to satisfy
the regulators with Business information
The case management software of
Diligence spotter has in-built audit and workflow tools which to manage all
kinds of risks associated with compliance procedures.
Batch Name Check
Batch Name Check provides daily
screening results and reports after batch screening of both new and existing
third parties, customers and entities. The screening process is automatic. The
screenings are made against global watchlists, PEP databases, sanctions and
negative news. The results are available on real-time basis.
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