Compliance
How Risk Managers Benefit from Using Quality Data
When it comes to the data used for predictive modeling and risk management, you can’t afford to leave anything to chance. Risk managers today have an ever-increasing number of AI applications and risk management tools to improve risk visibility and expedite their due diligence and risk monitoring processes. To monitor risk in the most valuable way, these tools and applications must have rapid access to a large quantity...
The Changing Roles of Risk Managers in the Age of Data, Technology, and AI
Risk management is paramount to the upkeep and success of a business. To make sure you are staying compliant, you should continuously check all operations for potential pitfalls, like illegal trades or unsavory business partners or unstable prospects. But what does that age-old process look like in the face of an ever-changing internet? As data, technology, and artificial intelligence (AI) evolve before our eyes, it...
The Cost of Low-Quality Data for Decision Intelligence
In the quest to achieve unrivaled business growth, organizations show increasing interest in Decision Intelligence (DI) . Whether you use DI to augment, recommend, or automate decisions, the effectiveness of your DI endeavors heavily depends on the quality of data that powers it. As financial services and global businesses alike expand the use of DI, weeding out poor quality—within both internal and alternative data—isn...
Nexis Diligence+™︎: Taking Your Due Diligence to a Higher Level
When it comes to business, it’s important to have high standards—especially when evaluating risk and protecting your reputation. To do so requires a comprehensive due diligence process that’s powered by information that you can trust. And with so many other responsibilities to manage, it can be difficult to perform an appropriately thorough due diligence investigation on a short timeline. If you’re looking to bring...
9 Steps For Better Third-Party Anti-Bribery and Corruption Due Diligence
Companies operating in today’s global business environment must navigate ever-strengthening anti-bribery and corruption regulations. Some of the most significant recent enforcement actions against companies arose from alleged due diligence failures, leading to fines, legal action, strategic risks and reputational damage. Meanwhile, there are growing expectations around companies’ understanding of their Environmental,...
Using Visualizations of Negative News to Monitor Your ESG Efforts
Organizations are facing more calls for Environmental, Social and Governance (ESG) accountability than possibly ever before. Investors want to know that the companies they own stock in are good stewards of the earth and responsible corporate citizens. Likewise, consumers want to know the brands they do business with share the same core principles as they do. And governments and regulatory bodies are now looking to usher...
How Financial Services Pros Can Keep Up with Your ESG Rankings
As issues around sustainability, human rights and social responsibility continue to dominate headlines, corporations are facing increased pressure to prioritize Environmental, Social and Governance (ESG) in their business strategies. This has been true in the financial sector for years, and ESG initiatives have quickly gone from nice-to-have endeavors that earn goodwill from stockholders and potential investors to table...
How to Understand and Monitor Sanction Lists
Sanctions are often hot topics of international news reports, especially as they relate to foreign governments and international relations. But, you may not realize that sanctions can be levied to any entity that violates regulations. Sanctions are also important to businesses, and working with those who have been sanctioned can have serious consequences. As such, monitoring and understanding sanction lists is a key...
Recent Regulatory Enforcement Show Need for Due Diligence
Alleged compliance breaches have led to combined fines and settlements worth hundreds of millions of dollars in Q2 of 2023. Regulators have taken enforcement action against companies over their activities in jurisdictions spanning four continents. In this blog, we look at some of the most significant regulatory interventions in recent months and suggest how companies should retool their compliance approach to mitigate...
Recent regulatory enforcement actions against alleged bribery and sanctions breaches show the rising risks of a failure of due diligence
Alleged compliance breaches have led to combined fines and settlements worth hundreds of millions of dollars in Q2 of 2023. Regulators have taken enforcement action against companies over their activities in jurisdictions spanning four continents. In this blog, we look at some of the most significant regulatory interventions in recent months and suggest how companies should retool their compliance approach to mitigate...
New Wolfsberg Principles Warn Global Banks of the Risk Factors That Require Enhanced Due Diligence
The Wolfsberg Principles are widely regarded as authoritative guidance for how financial institutions should respond to the rising risks of bribery and corruption. New guidance has recently been released for the first time in six years. We unpack its main recommendations of risk factors which should prompt banks to carry out enhanced due diligence and explain how technology can help to improve and upgrade their compliance...
Stop the Risk: Asking the Right Questions for Complete Due Diligence
With the rise of mandatory due diligence legislation, it is no longer sufficient for compliance officers to screen a third party for indicators of bribery and corruption alone. Effective due diligence in the modern business environment should also encompass Environmental, Social and Governance (ESG) factors like a company’s human rights record and environmental impact. More countries have adopted—or are considering...
ESG due diligence is no longer optional: shareholder activism accelerates as major banks face investor calls for climate action
ESG due diligence is no longer optional: shareholder activism accelerates as major banks face investor calls for climate action In the last month, some of the world’s biggest banks have faced votes from investors to improve their ESG and climate records. This is just the latest evidence that a growing proportion of shareholders, employees and consumers want to invest in, work for and buy from companies that can demonstrate...
The Global Impact of ESG Legislation
ESG screening, or environmental, social and governance screening, is becoming an increasingly important part of due diligence for companies around the world. Legislation mandating ESG due diligence is being introduced in many countries, and even where it is not yet required, consumers, investors, and employees are demanding ethical practices from companies. Improving ESG due diligence processes is essential for companies...
Navigating KYC in Crypto: Your Key to Secure Transactions
The Importance of KYC in Crypto The cryptocurrency industry has experienced tremendous growth in recent years, transforming the way people transact and invest in the financial markets. With a multitude of digital currencies, blockchain projects, and innovative use cases, the crypto landscape continues to evolve at an astonishing pace. However, this rapid expansion has also attracted malicious actors, necessitating the...
The urgent challenge of understanding third party environmental impacts
New report shows the urgent challenge of understanding third party environmental impacts and the opportunity of effective due diligence Only 5% of the UK’s largest companies have published a ‘credible’ environmental plan that would comply with forthcoming regulations, according to a new report. This stark statistic shows the difficulties facing compliance officers seeking to assess the ESG impact of third parties and...
The 6 Types of Datasets Critical to Your Due Diligence Investigations
If you're a decision-maker in a company, you know how much weight is put on making the right decision for your company. And, with increasing ESG regulation and consumer expectations of ethical practices, it is more important than ever that you take your initial research seriously and explore any possible obstacles to a new partnership. Skipping this step could be an issue of corporate survival. A good due diligence...
Stay Updated: Money Laundering Regulations Explained
What are the Money Laundering Regulations in the UK? Money laundering is a significant global issue that threatens the stability and integrity of financial systems. The UK has established comprehensive anti-money laundering ( AML ) regulations to combat this growing threat. Here, Nexis Solutions UK provides an overview of the UK money laundering regulations , who oversees said regulations and how LexisNexis can help...
Examples of Money Laundering Techniques
Examples of Money Laundering Schemes Learn how to protect your organisation from common examples of money laundering as we explore the world of money laundering techniques , uncovering the many methods used by criminals to hide their illegal profits. From simple acts like smurfing to the elaborate schemes of cyber laundering, Nexis Solutions UK delves deep to provide a thorough understanding of these deceptive practices...
Why Managing Reputational Risk is Key to Your Business Success
Are you managing reputational risk as effectively as you should? Every year, the Axios Harris Poll 100 surveys 40,000+ Americans on companies on consumers’ radar—for good or for bad. Then, the Top 100 companies on the list are ranked across seven key dimensions of reputation. While some companies continually rank high in the hearts and minds of Americans (Trader Joe's and Patagonia regularly top the list), others have...
Supply Chain Transparency, Ethics, and Technology for Due Diligence
For decades, consumers have steadily increased their prioritization of buying goods from companies that value human rights and environmental sustainability—this includes every step of the supply chain. Ethically sourced food involves a wide range of sustainability initiatives, from responsible packaging and energy efficient transportation to environmentally sustainable growth practices and efficient returns management...
Stark reminder of the costs of compliance failure as US regulator fines telecoms firm after alleged Deferred Prosecution Agreement breach
A multinational telecommunications company has pleaded guilty to breaching the anti-bribery provisions of the US Foreign Corrupt Practices Act and must pay a $206 million penalty. In this blog, we look at the judgement by the US Department of Justice, and highlight the legal, financial, reputational and strategic risks of a compliance failure. We also outline how Nexis® Solutions can help companies to improve their due...
Mastering KYC Documentation: Essential Guide for Compliance
Required Components of KYC Documentation When dealing with many types of organisations, it is essential to comply with the Know Your Customer (KYC) requirements. KYC documentation consists of several documents that are used by businesses to verify their customers’ identity, assist in preventing frauds and protecting both themselves and their customers. Knowing all the components required for KYC documentation can...
AML & KYC: Navigating Through the World of Financial Regulations
How are AML and KYC Related? When it comes to financial security, Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations have become a key part of the global compliance landscape. But what exactly do these two financial safeguards mean? What’s the difference between them? And why are they both essential for businesses dealing with protected funds? LexisNexis addresses all of your questions about AML and...
Unlocking Compliance Rules & Regulations for Businesses
Rules & Regulations of the Compliance Landscape: Best Practices in Compliance In today's increasingly regulated business environment, organisations have to stay ahead of the ever-growing compliance landscape. It is essential for businesses to ensure they are not only meeting all relevant regulations but also that they are taking appropriate steps to ensure their practices remain compliant going forward. LexisNexis outlines...