Compliance Consultancy

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Adverse Media

Compliance Consultancy Central Compliance Adverse Media

Adverse media, or negative news, screening is an essential process for financial institutions to comply with the regulations and protect their reputation from potential risks. This process involves comparing a customer against negative information and data sources that contain data related to money laundering, fraud, terrorism financing, economic scandals, politically exposed persons, or sanctions. To achieve these controls, different means have been used in recent years, making the screening process faster and more accurate.

What is adverse media screening?

compliance adverse media kyc screening process

Identifying any unfavorable or potentially dangerous affiliations with a person or group involves finding and evaluating publicly accessible information sources, such as news articles and social media posts. To evaluate potential reputational and financial concerns, adverse media screening is employed in the compliance, risk management, and due diligence industries.

What are the sources for adverse media screening?

The sources used for Adverse Media Screening can vary and depend on the industry objective. They range from primary search engines to sanction lists, governmental lists, other official records, social media, and any additional information that can provide accurate information to serve the investigation's objective. The screening results can be divided into three categories, including no matching results, true positive hits, and false positive hits.

The burdensome of false positives or what we call ‘noise’ has to be limited and is key to enhance the efficiency of the screening (tool).

What are the challenges with adverse media screening?

However, the screening process can pose some challenges, such as constant changes in news and the need for experienced analysts to evaluate the results. Moreover, news in various languages might require professionals with the corresponding language skills, resulting in insufficient findings. Another factor that could affect the accuracy of the screening process is non-updated sources and their inadequate context, which can lead to wrong or missing information.

How can Pideeco help you with Adverse Media?

Adverse media screening can be tricky to configure, time-consuming, and requires experts to tweak to get the best results. Our decade-long experience in the world of compliance can help your company to:

- Set-up and configure your adverse media screening tool.

- Adjust the thresholds of your screening tool to get the best results possible.

- Draft or improve your screening policies and procedures.

- Carry out blacklist, sanction, or PEP screening on your behalf.

- Set-up a whitelist to exclude false positives from your tool.

- Advise you on source for the screening tool lists.

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