Clients financial sector doesn’t want exposed free

(CNS): Access to a data base containing more than 50 million profiles of individuals on the global watch lists if sanctions and enforcement agencies from around the world will be offered free to people attending an offshore conference in Miami next month. The list compiled by MongooseGI FCS, believed to be the largest of its kind in the world, identifies those convicted or accused of terrorism, corruption, narcotics trafficking, fraud, money laundering and other serious financial crimes. The database also provides country risk assessments including a global terrorism heat map.

The firm will be launching the know your customer/global financial compliance solution at the OffshoreAlert Conference an all attendees will receive a 12-month free license to the list which would otherwise cost up to $10,000 per year.

"Our system contains more than 50 millionintelligence profiles of individuals, over seven million of which contain a photograph of the profiled person, and 241 country risk-assessments," said MongooseGI executive chairman Alan Tennant Johnson. "It is designed to ensure that banks, fund administrators and other financial services companies and professionals comply with KYC legislation and reduce their overall business risk and exposure to financial penalties and reputational damage."

He said that the data was extracted from more than five million sources which MongooseGI monitors continuously, including watch lists, sanctions, media, corporate and government resources.

“MongooseGI FCS uses complex computational algorithms that automatically aggregate the data into comprehensive profiles in real time eliminating delays and manual data entry errors,” Johnson added. “MongooseGI FCS provides customized reports and integrated workflow to help organizations perform complex risk analytics efficiently and effectively."

Instructions about how to sign up for a 12-month free license to MongooseGI FCS will be given to attendees during The OffshoreAlert Conference, which is being held at The Ritz-Carlton, South Beach in Miami Beach, Florida on April 4-6, 2011.