Relief Organization ACTED Selects FinScan to Perform Ad Hoc Screening
By Finscan, PRNEWednesday, January 26, 2011
PITTSBURGH, January 27, 2011 - FinScan, a leading international provider of sanctions, PEP and
heightened risk screening solutions for the financial services industry,
today announced that the international relief and development organization
ACTED (Agency for Technical Cooperation and Development) has contracted to
use FinScan's Web-based interactive solution. ACTED will screen its suppliers
and potential suppliers against the OFAC SDN (U.S. Office of Foreign Assets
Control Specially Designated Nationals) list to meet the requirements of its
Associate Regulation Compliance (ARC).
An independent, not-for-profit organization, ACTED's mission is to assist
populations affected by wars, natural disasters and/or economic and social
crises, and to accompany them in building a better future. Its
multidisciplinary interventions are adapted to each population's needs and
typically include emergency relief, food security, health promotion,
education and training, economic development, microfinance, advocacy and
institutional support, and cultural promotion. ACTED helps ensure the
sustainability of its interventions by remaining on the field after the
emergency, involving the communities, and engaging in long-term support to
break the poverty cycle and accompany the populations on their way to
development. Although ACTED is headquartered in Paris, screening will be
performed at its Haiti office.
"ACTED is committed to meeting the highest standards of accountability
and humanitarian management, including compliance with anti-terrorism and
anti-money laundering regulations," said Eric Stander, country logistic
manager for ACTED. "FinScan gives us the screening precision and data
security we insist on, yet it is also very economical and easy to use.
Implementation and training went smoothly, and there were no problems in its
interaction with our database."
Proven in thousands of projects worldwide, FinScan's robust matching
methodology supports the fast, accurate screening of records with very
precise, user-configurable rules for suspicious records. Its advanced
processing greatly reduces the risk associated with missing real matches
(false negatives), and minimizes the time and cost associated with
researching false matches (false positives). With interactive, ad hoc
searches such as ACTED is performing, FinScan returns results within seconds.
"ACTED provides critical emergency and development support to populations
trying to survive and recover from disaster," said Michael Ott, ISI senior
VP," and we're pleased to support them in meeting their compliance
obligations. FinScan assists clients not only by providing highly accurate,
reliable screening, but also by automatically producing the audit and due
diligence reports required by the anti-terrorism and anti-money laundering
mandates. In that way, we help our clients stay focused on what they do
best."
FinScan is the compliance brand of Innovative Systems, Inc. (ISI), a
premier provider of data quality, customer data integration, and business
intelligence support solutions worldwide.
About ACTED
Founded in 1993 and headquartered in Paris, ACTED implements
approximately 170 relief and recovery projects a year in Africa, Asia, the
Middle East, Latin America and the Caribbean, addressing the needs of
populations affected by natural and man-made disasters. Independent,
apolitical, and non-governmental, it respects a strict political and
religious impartiality and operates according to principles of
non-discrimination and transparency. The ACTED web site is located at
www.acted.org.
About FinScan
As the compliance brand of Innovative Systems, Inc. (ISI), FinScan
protects organizations against non-compliance with the world-class data
quality and data matching capabilities that are the cornerstone of all ISI
products and services.
FinScan helps organizations worldwide meet the requirements of
international government regulatory agencies by providing the most advanced
sanctions list and PEP compliance solutions available, offering 24/7/365 list
management; licensed or hosted deployment; outsourced case tool review;
transactional screening options; and automated due diligence reports to help
ensure the most effective and accurate compliance for its clients.
www.finscan.com
www.innovativesystems.com
Karin O'Sullivan of Innovative Systems, Inc. for FinScan, +1-412-937-7678, kosullivan at innovativesystems.com
Tags: FinScan, January 27, Pennsylvania, Pittsburgh