In the constantly evolving world of financial crime compliance, Know Your Customer (KYC) processes remain both indispensable and increasingly complex. As institutions face growing regulatory demands, exploding volumes of data, and a constantly shifting threat landscape, artificial intelligence (AI) has emerged as a powerful tool to automate and enhance due diligence.

In the pursuit of Know Your Customer (KYC) and broader financial crime and third-party risk compliance, open-source intelligence (OSINT) has emerged as a vital weapon. By definition, OSINT refers to data collected from publicly available sources, such as news websites, blogs, company registries, court databases, and social media. Its value lies in its ability to surface risk-relevant information that traditional data providers may miss, especially in relation to reputational, political, legal, or ESG-related concerns.

In today’s high-risk, hyper-connected world, adverse media screening is no longer a “nice to have”, it’s a regulatory and reputational necessity. From financial institutions to multinational corporations, the need to detect early warning signs about clients, suppliers, and counterparties has never been more urgent. With regulators demanding continuous due diligence and the volume of multilingual data across global media growing exponentially, traditional methods simply can’t keep up.

In today’s globalized compliance landscape, adverse media screening plays a critical role in identifying potential risks associated with individuals and entities. However, a fundamental challenge arises from how different legal systems approach privacy and transparency, particularly when it comes to naming individuals in media reports.

In today’s complex regulatory environment, adverse media screening (AMS) plays a critical role in Know Your Customer (KYC), Anti-Money Laundering (AML), and Counterparty Risk Management. Financial institutions, multinational corporations, and other regulated industries must ensure that they are not unknowingly engaging with individuals or entities involved in criminal activities, financial misconduct, or reputational risks.

In the modern complex regulatory environment, Know Your Customer (KYC) screening is a cornerstone of compliance for financial institutions, corporations, and regulated industries.

With an increasingly complex and regulated business environment, multinational corporations are now challenged to ensure the integrity and compliance of their expansive supply chains.

smartKYC today announce the launch of their new product for banks: smartEYE – the ultimate defence for 24/7 risk vigilance.

Multilingual NLP in adverse media screening can help unmask modern slavery.

From manually reviewing news articles to using natural language processing (NLP) to analyse open source data online, adverse media screening processes have changed substantially in recent years. But the goal remains the same: to protect your institution and your customers from potential risk and improve KYC processes. With AI solutions, that goal is now significantly more attainable.

On June 1, 2023 the EU Parliament paved the way for regulation that will have fundamental implications for the way companies operating within the EU assess and monitor their supply chains for the risk of human and environmental rights violations.