In today's digitally connected landscape, it is imperative for modern organizations to continually improve their compliance procedures. However, systematically reviewing news sources for adverse media reports about business partners, customers, or employees - known as adverse media screening (AMS) - remains a laborious, opaque, and extensive undertaking. Such reports, which may include allegations of fraud, money laundering, or other criminal activity, pose significant risks to organizations.
An effective AMS enables companies to identify risks at an early stage and take appropriate action. This not only protects the company itself, but also its reputation and relationships with business partners. Ongoing monitoring and analysis of media reports makes a significant contribution to minimising legal and financial risks.
How Netlive data improves your compliance strategy
Netlive offers a comprehensive database specifically designed for Adverse Media Screening. The Netlive's reference data consists of news-based profiles researched from numerous reputable publications and investigative journalism platforms worldwide. This data also includes early rumours and allegations, which often do not yet appear on official regulatory and law enforcement lists.
By combining artificial intelligence and human review, Netlive aggregates unstructured media news into structured profiles of individuals or companies. These profiles can be regularly reviewed using the Pythagoras Partner Screening Solution, enabling early detection of negative news. This ensures that companies can respond quickly and effectively to potential risks.
Automate AMS: Integration of Netlive into the Pythagoras application
The integration of Netlive data into the Pythagoras application is a critical step in streamlining your compliance processes. Adverse Media Screening data is then automatically available in Pythagoras, streamlining the entire screening process.
This closes the gap between manual Internet research and ongoing monitoring with reference data from providers such as LSEG World-Check or Dow Jones Watchlist, which often have stricter criteria for the inclusion of negative media profiles. Automated updates save companies valuable time and resources. These can be invested in other important areas of the business.
Benefits of automated review of negative media reports
The automated verification of negative media reports offers numerous advantages. Firstly, it enables continuous and comprehensive monitoring that goes far beyond the possibilities of manual research. This means that companies are informed of potential risks around the clock and can take appropriate action.
Another advantage is the early warning function, which triggers alerts as soon as negative news about business partners or customers appears. This gives companies the opportunity to take preventative action and minimise potential damage. In addition, automation helps to reduce human error and increase the accuracy of checks.
A few Steps for implementing the Adverse Media Screening Module
The implementation of the Adverse Media Screening Module into your existing compliance infrastructure is simple and efficient.
As a first step, you will find detailed information about Adverse Media Screening on our website.
In a second step, we recommend a demonstration and detailed discussion about how you can best implement your Adverse Media Screening. You will also receive information on prices and the implementation time, which is usually only one day. Gottfried Debove, Head of Account Management, will be happy to explain all further steps to you during the demo appointment.
Book your personal and non-binding appointment with Gottfried Debove now.
