Fifteen strong syndicate located in France to use World-Check One platform to evaluate third parties in compliance with regulatory obligations under Sapin II and 4MLD.
A syndicate of 15 maritime insurers based in France, Syndicat des Assureurs Maritimes de France (SAMF), has chosen Refinitiv’s World-Check One platform to help support their efforts to fight corruption, money laundering and terrorist financing in line with legal and regulatory requirements under Sapin II and the European Union’s Fourth Money Laundering Directive (4MLD).
The ongoing fight against terrorism financing, corruption, tax avoidance and other financial crimes means that anti-money laundering regulations are constantly evolving. The implementation of regulations such as the European Union’s Fourth Money Laundering Directive (4MLD), and more recently 5MLD, along with country-specific legislation such as Sapin II, requires banks, insurance companies and other organisations to conduct due diligence as part of their regular business dealings with customers and third-parties.
To meet the additional burden of these regulations, SAMF turned to Refinitiv to help simplify their Know Your Customer (KYC) processes and meet their regulatory obligations in a more reliable and cost effective manner. Key benefits of the World-Check One platform include its global monitoring of risk coverage provided by more than four hundred World-Check researchers speaking 65 languages, a product interface that is offered in English, French, Spanish, Russian, Japanese and Chinese languages, and powerful customisation and controls for a more streamlined screening process.
“As a leading insurance underwriting agency in the maritime sector we aim to promote sound risk management policies in an increasingly regulated environment,” said Laurent Blasquez, Chairman of the Syndicat des Assureurs Maritimes de France. “The World-Check One platform will play an integral part of our ongoing customer due diligence programs to the benefit of all our members.”
“Globally, crimes such as fraud and money laundering are increasingly at the top of the agenda for policy makers, law enforcement agencies and business leaders,” said Phil Cotter, Managing Director of the Risk business at Refinitiv. “As a result, there is a more intense focus on KYC screening as a critical first step to mitigating financial crime. We’re pleased to support SAMF and its members as they take a further step forward in meeting their regulatory obligations and mitigating their exposure to risk.”
World-Check One is an award-winning screening platform from Refinitiv that simplifies and accelerates the due diligence process and makes know-your-customer (KYC) remediation quicker and more intelligent. World-Check One combines purpose-built screening software with proprietary and trusted World-Check Risk Intelligence data in order to help organisations across the world meet their regulatory obligations. To learn more, visit: www.refinitiv.com/world-check.
The Syndicat des Assureurs Maritimes de France was founded in 1897 and brings together some fifteen underwriting agents across France. Laurent Blasquez, President of Sompo Japan Nipponkoa Martin & Boulart, is Chairman of the Syndicate following his appointment to the role in June 2017. For more information on SAMF, visit: www.assureursmaritimesdefrance.com.
Source: Refinitiv Press Release