Screening for international sanctions and PEP lists is mandatory in sectors such as asset management, crypto, igaming, business & risk intelligence, finance, banking, insurance, accountancy, fintech and real estate business.
Screenings are expected to occur multiple times throughout the customer lifecycle. So not just once in the Know Your Customer (KYC) procedure, but at every business-relevant moment. Starting with customer onboarding, continuing for every major financial transaction and again over time. Bluem enables companies to meet regulatory requirements while keeping costs under control. Our API checks for:
International and national PEPs
Global and regional criminals
We strive to offer our clients the highest possible data quality. This means, for example, as few “false positives” as possible. To achieve a global quality standard, we collect, process, link and verify data from thousands of PEP, sanctions list and justice sources every day. Via our REST API or dashboard you can check people and companies in real-time, so that you comply with compliance rules. Accelerate your CDD process by up to 75% and screen your business / private customers worldwide for PEP, sanctions and criminal activities from the Bluem solution. Your compliance team receives the PEP, sanctions and criminal data and insights for a reliable KYC process so that new customers can be accepted smoothly and with confidence. Applications:
New customers/partners: real-time check during onboarding
Existing relationships: periodic compliance check (frequency: per day / week / bi- weekly / month / quarter / six months / year)
For important financial transactions or events
Automate your sanctions checks and PEP screenings with our developer-friendly REST API. We offer an API solution that integrates seamlessly with your onboarding, CCD or KYC process. What kind of data do we provide? Included in the service is the provision of basic sanctions, PEP and criminal data if there is a match. Our advantages: Coverage 150+ countries; 100% automatic & real-time; at least # false positives.
Financial and other institutions that, in a professional capacity or on a commercial basis, provide services specifically listed in the Wwft must notify any unusual transactions to FIU-the Netherlands. The Wwft also lists indicators to determine what unusual transactions exactly are
Under the Money Laundering and Terrorist Financing (Prevention) Act (Wwft), entities are under an obligation to report unusual transactions, both completed and intended transactions. Any entity that fails to do so is in breach of the Wwft.
The identity verification process requires the collection of information such as names, addresses, dates of birth, and official company documentation. Beneficial ownership verification: The CDD process should extend to the beneficial ownership of customer entities.
For certain customers and transactions it is sufficient to conduct simplified customer due diligence under Section 6 of the Wwft. The conclusion that simplified customer due diligence is appropriate will always be based on a risk assessment.
In the Netherlands, the supervisory authority responsible for compliance with the Wwft is the Netherlands Bank (DNB), the AFM, the Financial Supervision Office (BFT), the Tax and Customs Administration (Belastingdienst Bureau) and the Public Prosecution Service.
Our clients are working in diverse industries, but with the same vision: Providing a superior online experience for customers. We are working together with financial institutions, insurances, PSP, cryptocurrency trading platforms, igaming operators, and many more. Sanction checks and PEP screenings don't need to be cumbersome and expensive. Our advantages: Coverage 150+ countries; 100% automatic & real-time; minimal # false positives. Get in touch with us.