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BREAKING THE NORM OF CLIENT SCREENING

Dear Friends and Colleagues,

 

Over the past few months we’ve seen scandal after scandal and leak after leak, shake our industry. But while these developments generated dramatic headlines, in many cases their adverse impact on the reputations of many high-networth clientele was overhyped. 

Take for example, the Kremlin List (reported in our previous newsletter).

 

While we still have not seen the implications of the classified list, the broad and seemingly haphazard-makeup of the unclassified list released in January has led many analysts to denounce its potential to trigger sanctions or even reputation damage to those on it.

 

The second newsletter of 2018 is dedicated to helping you monitor our constantly-changing political and regulatory environment.


The Sqope Team

 

 

 

 

CASE STUDY:

 

 

PROVIDING ACTIONABLE EARLY WARNING WITH EFFECTIVE CLIENT SCREENING

In an age where breaking news goes viral around the world days before it reaches the mainstream media, conventional alerts from traditional news mediums are no longer sufficient in providing effective early warning about reputational and regulatory issues impacting your clients and partners.

 

The Solution: Break the norms of traditional screening, get bold with Social Media.

We’ve used Twitter and other Social Media forums to track the reputational status of our clients’ counterparties in real time. Using these tools, we were able to:

 

  • Alert a Private Bank to a bribery case involving one of their clients just after it appeared in local African media.

 

  • Monitor a high-profile dispute between an UHNWI and his celebrity spouse, and alert just as charges were filed.

 

  • Identify when a Saudi Prince was released from detainment immediately during the Saudi corruption purge according to credible, aggregated social media ‘chatter.’

 

  • Report a new criminal investigation against an eastern European millionaire exposed in the Panama Papers on the day it happened.

 

But while Social Media offers faster reporting, it requires careful attention and analysis. Each post-er must be vetted for credibility, and post must be cross-referenced. Keyword searches should be targeted, in order to avoid an overload in alerts.

 

For more information regarding effective, pro-active client screening, including our Enhanced Screening Tool, contact ilanakrancenblum@sqope.lu

 

 

Read the rest of the newsletter HERE. 

 

  

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