Adverse media screening is the process of collecting, analyzing, and monitoring news articles, social media posts, blogs, and other online sources for information that could have a negative impact on your business. It’s an essential tool for businesses to manage their reputations and protect themselves from any adverse events that could arise in the future.
Maintaining Your Reputation
Adverse media screening helps you maintain a positive image in the public eye by alerting you to any potential threats to your business. This includes anything from criminal records or financial scandals to unethical behavior or false advertising claims.
By staying informed about any potential threats that could damage your reputation, you can take proactive steps to mitigate the risks associated with them.
Protecting Your Business
Adverse media screening can also help protect your company against legal action by alerting you to any potentially damaging information that could be used against you in court. For example, if a customer sues your company for false advertising, having access to documents outlining the accuracy of your claims can help defend your case in court.
Additionally, adverse media screening can also provide valuable insights into what competitors may be doing wrong so that you can avoid making similar mistakes.
Staying Compliant with Regulations
Finally, adverse media screening can help ensure that your business remains compliant with applicable laws and regulations. If a law changes or new regulations are introduced, having access to up-to-date information can help ensure that your business stays within the boundaries of the law.
Additionally, adverse media screening can alert you to any potential compliance violations committed by employees or partners so that they can be addressed swiftly and appropriately.
Adverse media screening has become increasingly important for businesses looking to protect their reputation and remain compliant with applicable laws and regulations.
Having access to accurate and up-to-date adverse media information allows businesses to stay informed about potential threats while taking proactive steps to mitigate those risks before they become too severe.
How does KYC2020 undertake Adverse Media Screening?
While screening for customers associated with financial crime, traditional systems can often lead to a slow customer onboarding which hampers operational efficiency.
KYC2020 changes that with Adverse Media Check ®, our AI-based service that continuously monitors thousands of relevant global news sources to create a persona database of individuals, companies, and politically exposed persons (PEPs) with relevant negative news per FATF financial crime categories.
We use Natural Language Processing, sophisticated AI-based algorithms, and ongoing learning to identify names and entities. We make sure that you have the most advanced and highly precise adverse media screening and monitoring solution, so that you can speed up your customer onboarding with confidence.
