Watchlist Screening

Enformion for Watchlist Screening

Watchlists exist to help corporations and the general public stay safer. Keep track of watchlist changes with the help of Enformion’s extensive database and analytics.

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How Enformion Helps with Watchlist Screening

If you handle any sort of financial transactions, your business should utilize watchlists to make sure you’re not facilitating any unlawful activity. Watchlists may include people with ties to money laundering, people who can’t participate in certain industries, or simply resellers from outside the country.

Whether it’s a matter of national security or just making sure the government properly applies taxes and tariffs, you need to make sure your business adheres to watchlists. With Enformion’s various tools, here’s how you can keep compliance and protect your business.

Maintaining Compliance With Federal and International Rules and Regulations

Certain watchlists fall under federal or international rules and regulations. For example, banks have to receive Social Security Numbers or ITINs for every person who opens a bank account in the United States to protect against money laundering and terrorism funding. Regardless of your industry, Enformion can help you match your customers against watchlists.

  • Watchlists are an important part of maintaining business, local and federal safety, which is why there are various stipulations regarding them.
  • You can utilize many different methods to maintain compliance with these rules and regulations, but automation is one of the easiest.
  • With Enformion’s batch processing options, you can simply upload a full list of your clients, then receive various appended information about them, which may include watchlist matching.

Keeping Your Business Safe From Fraud

Much of the time, watchlists include important information that can help keep your business safe, such as people known for money laundering and other fraudulent processes. If you serve those people through your business, you’re more likely to be at risk for fraud. Enformion can help you avoid it.

  • Fraudulent activity from people on watchlists can harm your business in the short-term and the long-term.
  • Instead of using your business to further fraud, you can make sure those customers don’t use your business.
  • When you use Enformion to run your customers and clients through watchlists, you can use risk mitigation tools to stop any individuals attempting to use your business for their own fraudulent purposes.

Protecting Your Vendors and Other Customers

Watchlists don’t just protect you. They also protect anyone you partner with, which can include your vendors, customers and even employees. If an individual uses your business for fraudulent means and accesses information about your partners, that person can then go on to harm not only you, but also your partners. You need to use Enformion to put up a barrier that protects everyone.

  • A watchlist helps you protect not only your own business, but also your customers and vendors.
  • You don’t have to pour thousands of dollars and hundreds of hours into forming a department that can run all your clients through a watchlist screening program.
  • Instead, you can use Enformion’s billions of public records from over 6,000 sources to do the work for you.

Screening Payments, Individuals and More

Watchlists apply to a number of different transactions you may handle on a day-to-day basis. You may need to make sure your customers aren’t purchasing huge amounts of products for illegal reselling. You might need to check new employees for potential security threats, or customers for any risky behavior in the past. Enformion can help you with all of these.

  • Every industry has an element of risk when it comes to taking on clients and making purchases from vendors.
  • Whether you run a debt collection agency or you work for the government, you need to maintain safety standards.
  • The tools at Enformion can give you the information you need to keep yourself and your business safer with every transaction.

Keeping Your Profits High By Avoiding Fines and Fees

Watchlists exist for a purpose, and that’s why the government, your customers and your vendors all expect you to abide by them. If you don’t, you can end up with fines from the government, a loss of business from your customers, or even expensive lawsuits. Enformion can help your business avoid these.

  • Despite the cost associated with extra security, you can’t afford not to run your customers and transactions through these watchlists.
  • The good news is, you don’t have to search far and wide for a way to run everything through the proper watchlists.
  • Enformion’s customization options make it easier for your corporation to utilize the company’s simple, thoughtfully-designed tools.

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