Regulatory DataCorp is set to offer screening for human trafficking violations and criminals free of charge for its customers.
With office in New York and London, the compliance screening company said the new service will be free of charge for its customers, which includes early 1,000 companies across 107 countries.
RDC provides customer screening solutions including sanctions, watchlists, politically exposed persons (PEPs) and adverse media. Now all current and future customers, regardless of the RDC solution they use, will be able to screen against RDC’s human trafficking content at no additional charge.
“Everyday, RDC employees around the world wake up with a common mission – to prevent criminal infiltration of the world’s financial system”, said Tom Walsh, CEO of RDC.
“The more we learn about the horrors and costs of Human Trafficking from our customers and partners such as the Mekong Club, the more passionate we’ve become about halting this vile, inhumane business. So, on this Global Anti-Slavery Day, we are taking the unprecedented step of enabling RDC customers to screen for human trafficking crimes at no additional charge.”
RDC supports more than 35,000 compliance professionals across more than 100 countries in strengthening their KYC/AML, fraud and Politically Exposed Persons (PEPs) protection, ensuring sanctions and watchlist compliance.
Back in 2016, RDC was purchased by Vista Equity Partners, a private equity firm focused on software, data and technology-enabled businesses.
The RegTech recently launched a whitepaper titled: Demystifying artificial intelligence and machine learning. Its paper looked at how artificial intelligence and machine learning are changing the regulatory landscape and fueling the rise of RegTech. However, RDC said their dependence on data is often overlooked.
RDC also released a paper highlighting eight reasons why search engines are not due diligence. Despite search engines being free, easy to use and powerful, RDC claims it will expose you to significantly more cost and risk than opting for a purpose-build solution.
Copyright © 2018 RegTech Analyst
