No longer suffer from geopolitical hazards. With NEOFI , you are assured that your third-party repository as well as that of each of your subsidiaries complies with regulatory obligations, regardless of the country in which they apply.
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In order to combat illegal actions and sanction violations of international law, certain countries or the international community as a whole may adopt restrictive measures of a financial or commercial nature against natural or legal persons.
These sanctions lists being updated very regularly, this regular change constitutes a risk for companies since in the event of non-compliance, they are exposed to fines.
It is therefore the responsibility of financial departments to implement compliance controls on payment recipients.
To learn more about how to deal with geopolitical unforeseen events using NEOFI Compliance, read our article!
NEOFI Compliance collects lists from the UN Security Council, OFAC, EU, HMT and the National Asset Freeze Registry.
NEOFI Compliance extracts beneficiary information from your payment campaigns and compares it to these lists. In the event of a positive control, NEOFI Compliance notifies the persons concerned, unlots the remittance, deletes the positive transaction(s), relots the remittance with the remaining payments so that they continue their normal validation/signature process .
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In addition to the international sanctions lists, each client can add their internal lists (black, gray) and the rules to invoke them temporarily or permanently.
NEOFI Compliance interfaces perfectly with NEOFI Anti-Fraud to connect to private control repositories: SEPAmail Diamond, Sis ID, Trustpair.
Real time tracking
Real time tracking
With the possibility of sending via secure protocols, NEOFI eliminates the insecurity linked to paper mail passing via unsecured means. In addition, the dematerialization of the management of banking powers makes it possible to improve audit trails thanks to the complete archiving of actions carried out (versioning, user information, rights management), in order to prevent the risk of fraud.
Real time tracking
Improve payment data management and gain the insights you need to help your organization manage cash flow and liquidity more effectively.
