The new step by step approach to client screening

By Rupert de Ruig, Managing Director Dow Jones Risk & Compliance
On 2009-07-30

In this white paper, Rupert de Ruig, Managing Director of DowJones Risk & Compliance, examines how today's anti-money laundering and compliance officers and industry vendors must embrace a "one step at a time" philosophy as a practical solution to the gigantic challenges posed by commercial watch list screening.

This paper is based on the experience DowJones has gained working with some of the worlds leading financial institutions since 2001 to tackle this unique challenge and examines how a risk based single step approach is the key to managing costs whilst enhancing effectiveness. The shift towards targeted risk-based screening marks the beginning of a new phase in the evolution of client screening.One size no longer fits all. Regulated firms are now embracing the risk-based approach methodology. By applying a combination of factors to their client and transaction screening they are reducing cost and increasing the
effectiveness of the process.

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