While the financial industry and other ‘high risk industries’ such as real estate have been required for a long time to have KYC (Know Your Customer) processes in place, many other industries only now face stricter regulations due to global widespread of KYC and AML compliance requirements. In general, all businesses are required to adopt compliance programs and for example check their business partners against sanctions, crime, and possibly even PEP (Politically Exposed Persons) lists to understand the risk in doing business with their counter-parties.
remQ - Sanctions Compliance is availableas a stand-alone solution or can be seamlessly embedded into the remQ platform.
Our sanctions lists check is based on data from the most relevant organizations such as USA/OFAC, UN, European Union, etc. We also cover a crime database, sourcing data from FBI’s most wanted list and Interpol’s Red Notices.
Our Sanctions Database covers Sanctions Lists from OFAC, Canada, HM Treasury EU, Australie and many more regions and organizations globally.
Our Watchlists Database includes more than 8k records from Interpol and the FBI. More Watchlists are being added continuously.
Organizations are increasingly exposed to compliance requirements. Efforts to adopt innovative ways to assessand manage risk and enhance performance are critical.That’s where data analytics and continuous monitoring arehelping to simplify and improve the internal control system,increase operational efficiencies, reduce costs, and detect fraud and errors earlier. Internal controls become a way for organizations to create value.
Name Matching is the real challenge in Sanctions & AML compliance. Our smart matching technology reduces false positive while preventing false negatives.
remQ - Sanctions Compliance can screen all your business partners and also scan names in any other table in your SAP system.
remQ - Sanctions Compliance can be licensed as part of the remQ - Follow the Money Compliance platform, or used as a stand-alone tool. Additional licensing is required, based on the number of names that are scanned.
remQ is a continuous monitoring software for SAP ERP and S/4HANA, with a large library of built-in controls that helps check master data and business processes to avoid financial losses through errors and frauds. remQ can be set up in less than a day, works regardless of organization size and industry, requires no consulting project, and reduces cost of compliance through automation.
We live from satisfied customers. That’s why we are always available for our actual customers and those who think about it. Regardless whether you seek technical support or answers on complex licensing and user management issues.
Just contact us, often a quick hint is all you need. And we always enjoy to give that hint!
We’ll help you out. Get connected with our support team at supq(at)voquzlabs.com or call us directly on one of the numbers below.
- American Customers: +19176364290
- All other regions: +4989925191260