Leveraging global media for a more proactive stance on risk is the future of financial crime prevention. Traditional methods often involve manual searches across various applications to identify potential threats in customer and counterparty relationships. While this may have been the standard practice in the past, advancements in technology are reshaping the landscape.
Sigma Ratings, which offers an AI-powered software platform to identify, screen, monitor and review clients and their relationships, has delved into how firms can leverage g
Adverse media screening, often referred to as negative news screening, has become the cornerstone for many institutions. Its primary purpose is to help firms identify potential risks at a specific point in time and continually. Despite the benefits, many still rely on manual methods to ascertain potential risks, which can be time-consuming and inefficient.
However, the future of adverse media screening is shifting towards a more data-optimised approach. This new approach helps users not only identify potential risks but also link and contextualise them on a grander scale. Instead of merely flagging potential threats, this next-generation solution connects the dots, enabling users to understand risk on a more comprehensive network basis.
Sigma360 is at the forefront of this change, with its proactive risk detection capabilities. Their machine-driven adverse media screening tool is always active, scanning hundreds of thousands of global sources in over 50 languages. This provides users with an unparalleled level of speed, scale, and accuracy.
Sigma360 wasn’t satisfied with the traditional methods. To bridge the gap, they have developed 18 proprietary risk event types, ranging from financial crime events to changes in client ownership, location, and products. This innovation enables users to:
- Pinpoint risks based on specific event tags
- Instantly highlight global risks as they emerge
- Prioritise material risks for immediate attention
Building on this foundation, Sigma360 has introduced ArticleAI. This tool delves deeper than most, offering additional insights into entities and automatically drawing connections to other individuals, companies, and databases. The advantages of ArticleAI over traditional methods include:
- Revealing connections that might go unnoticed
- Faster insights through swift identification of related links
- Enhanced relevance scoring through co-referenced risks
To illustrate the capabilities of ArticleAI, consider a situation where DJI, a sanctioned entity, is connected through various events to others, including Skymec, Group 22, a Dubai-based distributor, and even countries like Russia. ArticleAI helps establish these intricate risk connections.
So, how can ArticleAI benefit you? With Sigma360’s innovative tool, organisations can stay ahead of potential risks. By leveraging unstructured data, they can better contextualise threats and elevate adverse media screening to unprecedented heights.
Sigma360’s platform stands out as the go-to solution for teams focusing on financial crime, credit, and supply chain, enabling them to seamlessly detect and manage risks within their networks.
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