More flexibility with ongoing monitoring
Published
Ever forgotten to turn ongoing monitoring on when you've set up a new check?
Or uncovered something when assessing risk that means you want to monitor a higher risk client?
Now you can toggle ongoing monitoring on and off, even after the check has been set up. To turn ongoing monitoring on, visit the check detail page and use the toggle at the top of the page.
Ongoing monitoring is a vital part of anti-money laundering (AML) compliance, but it can be difficult to carry out without the help of technology that can automate the monitoring of changes relating to your client. Without this help, you may miss important updates or place unnecessary strain on your team.
Thirdfort’s AML screening uses multiple date points that are provided by you or your client to search against thousands of lists globally that relate to:
Sanctions.
Politically exposed persons (PEPs) as well as relatives and close associates (RCAs).
Regulatory enforcements and warnings.
Fitness and Probity.
The majority of sources we use are updated and made available to our clients within a few minutes. The screening teams responsible for these updates operate 24/7, while many sanctions updates are captured automatically through digital monitoring of sanctions lists.
With ongoing monitoring enabled, Thirdfort will notify you of any changes as soon as they are detected. Whenever new hits are found, they will be available for review in the Thirdfort portal, creating a clear audit trail of matches. You can dismiss false positives and add relevant commentary, which will also be captured in the audit trail.
Now, you can turn ongoing monitoring on even after the result of the initial check has been returned, giving you more flexibility to monitor your clients.
Ongoing monitoring is available with all of Thirdfort’s checks on individuals as well as our Know-your-business tool.
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