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Compliance
According to Anti-Money Laundering obligations the SAAM requires its members to classify the risks of business relationships. This involves the tracking and monitoring of «politically exposed persons» (PEP). PEP data is offered by various suppliers.
There exist different query tools to retrieve PEP data. Basically one distinguishes between online and in-house solutions. With the online solution checks are carried out via a browser on an external server. The in-house solution requires the installation of a specific software and regular updates of PEP data. Offline systems offer more security besides allowing to include supplementary CRM-functions. They require more maintenance and thus more expensive.
In collaboration with Pythagoras Ltd, KYC Spider and SIX Telekurs the SAAM offers its members both tools at preferential conditions.
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