Screening of Vessels

February 02, 2023

All our customers integrate their preferred third-party screening provider for PEPs, Sanctions and Adverse Media in order to achieve full automation of processes and a centralized view of their entire due diligence process on counterparties.

Such integration allows KYC Portal to automate the monitoring and automated searching of entities on an ongoing basis. Clients can configure KYC Portal to define daily monitoring on all of their entities that expose them most to risk, whilst limiting other subjects to periodic screening. This leads to more efficiency in internal processes whilst reducing risk exposure. Such an integration also allows customers in automating the lifecycle of the counterparty based on the type of MATCHES that are happening. Each MATCH could have different aspects of risk based on it being a PEP, Sanction, Insolvency or any other category that the third party provides.

This new feature in KYCP now retrieves VESSEL information from third parties that provide this data. There are various providers who provide vessel data. This is now returned within the searches relating to the entity one is searching or monitoring.

KYC Portal CLM

Similar to results of type ORGANISATION and INDIVIDUAL, VESSEL related results will show up as a separate entity clearly showing the associated risk relating to the subject you are searching. The user can view the detail of each result allowing them to decide if it is a MATCH or NO MATCH.

KYC Portal CLM

The searching of such information can be done in KYC Portal both if one creates an entity of type VESSEL in the structure chart of the solution, as well as if there are vessel results in the third party that are associated to the organisation or the individual that one is searching.

KYC Portal CLM

This new feature gives more context and detail to the risk exposure of parties within your structure in KYC Portal CLM. This aspect of risk has increased further over the past months due to the sanctions that are being imposed due to the current economic and political climate in Russia and Ukraine.
For more info contact us directly on or schedule your live demo with us today.  
Targeted For Screening of entities for risk exposure
Status LIVE
Keywords CRA, Risk Assessment, KYC, AML
Direct Benefits Ability to include vessel related adverse media that could relate to the subject you are searching, be it Individual or Organisation