What is Client Screening

Client Screening allows professional service firms to accurately and systematically assess their client lists against leading sanctions lists such as HMT Sanction List, OFAC SDN, EU Sanctions, UN Sanctions, etc. as well as commercial data providers such as World Check, C6, Dow Jones, etc. 

Legal RM have numerous years experience in assisting firms in understanding the client information they hold as well as the differing levels of information held in external sources. This takes into account common issues such as mis-spellings, transliteration, abbreviated names, poorly held address data, etc in order to efficiently and effectively screen an entire client database against known criminals, hightened risk individuals such as Politically Exposed Persons and other sanctioned individuals, entities or countries. This ensures that your organsation clearly understand the level of risk associated with an instruction in order to make informed decisions on a risk sensitive basis.

Client screening is a legal requirement for the UK professional services sector and has now become an absolute necessity following numerous high profile cases involving professional services organisations hitting the headlines recently. These have included several law firms, trust companies, investment banks as well as Tier one banks. Such high level press coverage has led both The Law Society and the FSA to issue updated guidance notes around Anti-Money Laundering - with the FSA providing extremely prescriptive guidance around Client Screening (A link to the FSA report can be found on our Blog).

For further information around client screening, typical data quality issues, legal, reputational and regulatory requirements feel free to browse our website, contact us, request a callback or register for a client screening workshop