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Financial crimes today are not only alive and kicking but at all-time highs. The reason is companies’ inability to timely monitor the micro-level activity within their client portfolios due to relying on legacy systems and manual work. As a result, financial institutions are facing increased compliance, financial, and reputational risks.
Adverse news screening is the latest mechanism to complement firms’ and regulators’ comprehensive set of tools for overcoming these barriers and enhancing due diligence procedures. By employing technologies like Owlin, financial institutions can adopt a proactive approach of continuous monitoring over the clients they conduct business with. As a result, companies can prevent financial misconduct in its early stage, rather than post-factum, thus avoiding legal fines, reputational damage, and financial losses..
Download our latest white paper to find out more about the necessity of real time Adverse News monitoring.
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