Compliance Services

Maximum legal certainty, with minimum effort

On December 22, 2011, tighter statutory guidelines for combating money laundering and terrorism became mandatory for banks’ day-to-day business processes.

One of the focal points of Germany’s revised Anti-Money-Laundering Act (GWG) is compliance with the due diligence requirements for determining a customer’s identity. This also encompasses the ownership and control structures of legal persons, and clarification of the beneficial owner. Creditreform’s latest solutions determine the beneficial owner for you, in most cases, fully automatically.

Creditreform also helps you with continual comparisons of your customer data with the latest sanction lists of suspected terrorists and terrorist organizations. These are conducted both for domestic and overseas organizations. Our solutions place you firmly on the right side of the law!

  • Browser-based Web solution for quick, one-off checks
  • Fully integrated system solutions for automated, ad hoc checks within your own processes
  • Batch-based screening of your master data
  • Compliance monitoring for permanently cross-checking your own customer data with sanction lists.

In each of these processes, Creditreform centrally logs the review and documents it in a legally-compliant manner.

Information and system solutions for your compliance

CrefoSystem for fully automatic identification of the beneficial owner.

As a fully-integrated, holistic solution for efficient, needs-oriented customer and risk management, CrefoSystem is especially suited to the demands of larger banks, savings banks, and leasing and factoring companies. Its pick & mix philosophy towards choosing the required add-ons allows tailoring to each customer’s unique needs.

As Creditreform centrally maintains the statutory rule sets to accommodate new legislation and export regulations, you’ll always be up to date. And another benefit, and for further convenience: CrefoSystem also guarantees your compliance with the logging and retention obligations for electronic documentation under § 8 GWG.

Your benefits

  • Legal certainty by fulfilling your due diligence duty to identify the beneficial owner under the German Anti-Money-Laundering Act (GwG).
  • Legally compliant documentation through audit-conformant archiving
  • Minimal implementation overheads through simple interfaces and intuitive GUIs
  • High quality reconciliation through intelligent search technologies
  • Lean processes through outsourcing research to Creditreform
  • Regular updates and permanent monitoring of the sanction lists.

Compliance Services

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Further information and solutions on the subject

- Compliance Management,
Prevention of money laundering,
Fraud Prevention and
- MaRisk
you´ll get here:

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