According to the United Nations Office on Drugs and Crime (UNODC) money laundering amounts to 2.7%( or USD 1.6 trillion) of the global GDP. Current global circumstances are conducive to keeping illicit money a secret and it is very difficult to detect it. In such an atmosphere compliance in the corporate space needs to be harmonized so that there is no duplication of effort and corporate actions are undertook smoothly and transparently. Regulators the world over are pressing executives for a rational technological solution to predict and prevent financial crime. CIOs around the world are struggling for a better, faster, and cheaper solution to overcome regulatory pressures and margin compressions.
This is where RDC comes in. It specialises in providing integrated GRC (“Governance, Risk and Compliance”) solutions to financial institutions, corporate and technology companies around the world. RDC’s platform identifies key risks and eliminates them before they materialize as problems. It achieves this by expertly integrating risk data, analytics and technology with human analysts to provide the best possible results.
RDC’s strength comes from its GRID (Global Regulatory Information Database) database. Built over 14 years by screening 2.5 billion news articles, scrutinizing over a million websites and reviewing over two million government lists and continuously updated it is a formidable database that provides the authenticity to RDC’s services that no other competitor can match. It is composed of more than 500 global sanctions and watch lists and over 100,000 global sources that are screened for adverse media. Information pulled into GRID is reviewed for accuracy and assigned a risk code and risk stage. By continuously monitoring and updating the information that enters the database, and providing human review, the company is able to significantly reduce the number of false positives.
RDC also provides expert consultancy services in compliance areas such as Anti-Corruption, Aml/Kyc Compliance, Reputational Risk Management, Supply Chain Protection, Sanctions & Export Control, Politically Exposed Persons, False Positives, and Adverse Media. This is achieved by screening and monitoring suppliers and third parties against the largest database of foreign officials and other higher risk individuals and entities. Maximizing due diligence spend with cost-effective, decision ready reports offering the highest levels of accuracy and insight helps RDC to achieve Aml/Kyc Compliance. Significantly enhancing protection with a full compliance workflow solution, or with tools designed for integration into existing enterprise applications are the company’s offering for Reputational Risk Management. Implementing a robust workflow for event monitoring with a rentable technology platform that drives productivity and effectiveness. Uncovering more of the risks that are relevant to the client with access to the world’s broadest and deepest adverse media database makes RDC’s solutions for PEPs (politically exposed persons) stand apart. A sophisticated filtering engine allowing for precise screening to client-specific needs to effectively manage false positives makes RDC’s offerings highly precise.
Innovation is the constant change that is shaping the businesses of the 21st century. Innovation of services and products in any business is always associated with risk. Compliance begins to play a role in how risks are managed on all fronts. RDC is growing quickly as regulations continue to engulf the global business space. They deliver powerful, decision-ready intelligence and world-class risk and compliance protection, allowing global organizations to identify banned/suspect entities, strengthen fraud protection, ensure regulatory compliance, manage supply and distribution risk, and protect their brand equity.