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Risk-Based Approach to Financial Crime Risk Management in the British Virgin Islands
Combatting Financial Crime in a High-Risk Jurisdiction
As part of its ongoing efforts to combat financial crime, LexisNexis Risk Solutions has announced its expertise in risk-based approach to financial crime risk management in the British Virgin Islands. The company’s advanced technology and data analytics enable businesses to efficiently assess and manage financial counterparty risk.
A High-Risk Jurisdiction for Money Laundering
According to a recent report by the Financial Crimes Enforcement Network (FinCEN), the British Virgin Islands is considered a high-risk jurisdiction for money laundering. In response, LexisNexis Risk Solutions has developed a comprehensive solution that provides robust risk intelligence and helps businesses prioritize key sanctions and global financial crime compliance requirements.
Effective Financial Crime Compliance with LexisNexis Risk Solutions
“Our configurable tools deliver dynamic insights that provide actionable risk intelligence at any point in the customer lifecycle,” said [Name], Director of Financial Crime Compliance at LexisNexis Risk Solutions. “This enables our clients to accelerate decisions and effectively combat financial crime risk.”
Comprehensive Solution for Financial Crimes Management
LexisNexis Risk Solutions offers a range of solutions that work together to deliver robust risk perspective, including:
- Bank Secrecy Act (BSA) and Anti-money laundering (AML): Effective management of BSA/AML requirements.
- Anti-bribery and corruption (ABC): Robust anti-corruption practices.
- Customer Due Diligence (CDD): Thorough customer due diligence processes.
- Economic Sanctions: Compliance with economic sanctions regulations.
Conformity with Key Anti-Terrorism and Money Laundering Laws
The company’s financial crimes solutions are designed to help businesses conform with key components of anti-terrorism and money laundering laws, including:
- USA PATRIOT Act
- Financial Crimes Enforcement Network (FinCEN) Customer Due Diligence Guidance
- Office of Foreign Assets Control (OFAC) Regulations
- Fifth European Union Anti-Money Laundering (EU AML) Directive
Proven Experience in Fighting Financial Crimes
With over 20 years of experience in fighting financial crimes, LexisNexis Risk Solutions has demonstrated its strong strategic commitment to helping businesses achieve greater costs and operations efficiencies across the customer lifecycle.
Partnership with Leading Global Financial Institutions
The company is proud to be the provider of choice for leading global financial institutions and corporations, including seven of the world’s top ten banks.