Due diligence is the investigation or exercise of care that a reasonable business or person is normally expected to take before entering into an agreement or contract with another party or an act with a certain standard of care.
Thomson Financial was an arm of the Thomson Corporation, an information provider. When the Thomson Corporation merged with Reuters to form Thomson Reuters in April 2008, Thomson Financial was merged with the business of Reuters to form the Markets Division of Thomson Reuters.
In the United States, Know Your Customer (KYC) guidelines and regulations in financial services require professionals to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer. The procedures fit within the broader scope of anti-money laundering (AML) and counter terrorism financing (CTF) regulations.
A registered investment adviser (RIA) is a firm that is an investment adviser in the United States, registered as such with the Securities and Exchange Commission (SEC) or a state's securities agency. The numerous references to RIAs within the Investment Advisers Act of 1940 popularized the term, which is closely associated with the term investment adviser. An investment adviser is defined by the Securities and Exchange Commission as an individual or a firm that is in the business of giving advice about securities. However, an RIA is the actual firm, while the employees of the firm are called Investment Adviser Representatives (IARs).
FXall is a foreign exchange aggregator providing electronic trading to banks and brokers using an electronic communication network with headquarters in New York. The company provides electronic trading in the foreign exchange market to institutional clients using straight through processing. Clients include active traders, asset managers, corporate treasurers, market makers, broker-dealers and prime brokers. The company has been a subsidiary of Refinitiv since 2018.
Thomson Reuters Corporation is a Canadian multinational information conglomerate. The company was founded in Toronto, Ontario, Canada and maintains its headquarters at 19 Duncan Street there.
Anti-money laundering (AML) software is software used in the finance and legal industries to help companies comply with the legal requirements for financial institutions and other regulated entities to prevent or report money laundering activities. AML software can facilitate faster and more accurate compliance and investigations.
Thomson Reuters Lipper is an American financial services firm. Founded in 1973 as Lipper Analytical Services, it was acquired by Reuters in 1998.
In financial regulation, a politically exposed person (PEP) is one who has been entrusted with a prominent public function. A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence they may hold. The terms "politically exposed person" and senior foreign political figure are often used interchangeably, particularly in international forums.
Maajid Usman Nawaz is a British activist and former radio presenter. He was the founding chairman of the think tank Quilliam. Until January 2022, he was the host of an LBC radio show on Saturdays and Sundays. Born in Southend-on-Sea, Essex, to a British Pakistani family, Nawaz is a former member of the Islamist group Hizb ut-Tahrir. His membership led to his December 2001 arrest in Egypt, where he remained imprisoned until 2006. While there, he read books about human rights and made contact with Amnesty International who adopted him as a prisoner of conscience. He left Hizb-ut-Tahrir in 2007, renounced his Islamist past, and called for a secular Islam. Later, Nawaz co-founded Quilliam with former Islamists, including Ed Husain.
Quilliam was a British think tank co-founded in 2008 by Maajid Nawaz that focused on counter-extremism, specifically against Islamism, which it argued represents a desire to impose a given interpretation of Islam on society. Founded as The Quilliam Foundation and based in London, it claimed to lobby government and public institutions for more nuanced policies regarding Islam and on the need for greater democracy in the Muslim world whilst empowering "moderate Muslim" voices. The organisation opposed any Islamist ideology and championed freedom of expression. The critique of Islamist ideology by its founders―Nawaz, Rashad Zaman Ali and Ed Husain―was based, in part, on their personal experiences. Quilliam went into liquidation in 2021.
Mohammed Shafiq is a British media personality known for his commentary on Islam in the United Kingdom.
Denied trade screening is the process of screening parties involved in both domestic and export transactions for the purpose of complying with the safety standards of the U.S. Government. Effective trade screening not only includes denied parties but also controlled products and embargoed or sanctioned countries. The purpose of screening the receiving parties of finished goods is to exude "due diligence" and "reasonable care" when completing transactions with foreign entities, ensuring the safety and intention of the products and importers.
An identity verification service is used by businesses to ensure that users or customers provide information that is associated with the identity of a real person. The service may verify the authenticity of physical identity documents such as a driver's license, passport, or a nationally issued identity document through documentary verification. Additionally, also involve the verification of identity information (fields) against independent and authoritative sources, such as a credit bureau or proprietary government data.
Eikon is a set of software products provided by Refinitiv for financial professionals to monitor and analyze financial information. It provides access to real time market data, news, fundamental data, analytics, trading and messaging tools. It provides data on asset classes including foreign exchange, money markets, fixed income, equities, commodities, funds, and real estate.
The Wolfsberg Group is a non-governmental association of thirteen global banks. It started as a meeting of banks in 1999 who adopted a number of best practice standards under the name Wolfsberg Principles. On 22 September 2021 the association under Swiss law under the name "The Wolfsberg Group" was founded in Basel.
Radical: My Journey out of Islamist Extremism is a 2012 memoir by the British activist Maajid Nawaz, who is also a former Islamist. First published in the United Kingdom, the book describes Nawaz's journey "from Muslim extremist to taking tea at Number 10". The United States edition contains a preface for American readers and a new, updated epilogue.
The Red Flag Group was a global integrity and compliance risk firm based in Hong Kong with 15 offices located throughout the United States, Asia, Middle East and Europe. The firm had approximately 300 employees, who advised clients across a range of industries on compliance and anti-corruption regulation. It also had a partnership with LexisNexis in the area of outsourced due diligence.
Refinitiv is an American-British global provider of financial market data and infrastructure.
This article provides the main aspects of the framework for anti-money laundering in financial institutions in France.
