Compliance

Compliance (regulatory compliance) means conforming to comply with relevant laws and regulations. Together with KYC Spider in Zug Eurospider has in-depth compliance know-how.

Our last post discussed how to minimize false negatives to reduce risk and false positives to conserve resources. Yield refers to the percentage of high-risk customer relationships that are discovered through name matching.

Our second article about name matching and revision dealt with minimizing the risk of false negatives. This third article is about measuring the risk in practice. This is frequently done by testing two or three names, but this kind of layperson’s test has its pitfalls when it comes to compliance.

In the first part, we characterized the name matching problem. In this second part, we will discuss false negatives. According to article 13 of AMLO-FINMA, financial intermediaries must develop criteria to identify higher-risk business relationships.

Also this year in connection with the name Matching numerous questions were asket by auditors. Next year it won't be different, which is why we start with a series of Know How articles about Name Matching.

Public ledger technology such as blockchains gained attention in the last years both in the media and in the economy. This new trend is accompanied by research and development of methods to extract relevant information from such public ledgers.

Complete Revision of the Federal Data Protection Act

The complete revision's draft of the Federal Data Protection Act is currently in political consultation. Data Protection is to be increased by giving people more control over their private data as well as reinforcing transparancy regarding the handling of confidential data.

Links: draft, report

Eurospider Information Technology AG
Schaffhauserstrasse 18
8006 Zürich

 

Cookies make it easier for us to provide you with our services. With the usage of our services you permit us to use cookies.
More information Ok Decline