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Example of a sanctioned company report

Importance of Sanction-monitoring & Watchlists in Commercial Transactions

It must be keep in mind that preventing money laundering and terrorist financing in business is a legal obligation. In this way, knowing the background of your customers and partners helps to avoid fines and confusion in cooperation.

Only one reputable customer is enough to get fined or your well-planned business plan will fail altogether.

So caution is your best defense strategy. Only work with trusted business partners by performing a background check in advance.

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What am I obligated to do as an entrepreneur?

As a manager or co-operator in a company (CEO, CFO, lawyer, partnership manager, etc.), you are responsible for ensuring that each business transaction and co-operation agreement complies with the rules for combating money laundering and terrorist financing when conducting business.

SEE HOW >

Creditinfo scans LexisNex database to identify individuals from watch lists in more than 225 countries (eg EBRD, European Investment Bank, African Development Bank, Asian Development Bank, Asian Infrastructure Investment Bank, Europol, Interpol, European Union, US, UK, Australia, Canada, etc.) . NB! We offer the possibility to use this functionality through the Creditinfo API, which can be easily configured to interact with your company’s information systems.

Know-Your-Customer Solutions

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Customer-base Control via API Interface

We can provide an API-based interface to your customer databases, so that you can perform real-time verification of your customers in LexisNexis sourced national background, sanction and watchlists.

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Customer-base Control through a XLS table

We can perform a custom check based on the input you provide. It is not always known who are the persons who operate behind the complex ownership structure of your client companies, and it may be more cost-effective to organize an inspection of the entire customer base with the help of an external service provider in order to avoid increasing labor costs.

Creditinfo has access to reliable international databases as well as a professional team that will help you fulfill this obligation. You can conveniently send us the data that needs to be checked, e.g. in XLS format, specifying the legal names of clients, as well as clients who are natural persons.

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SHARED KYC UTILITY

With our KYC Utility, it is easy to perform a background check and always cheaper than possible errors and threats.

The “Know Your Customer” KYC solution collects the necessary data about customers and partners from reliable Estonian and international databases.

With a few clicks, you can create the reports you need to share with those involved.

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Useful Reports for Getting to Know the Customer

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Company Owners Report

The report in KYC Utility provides information about individuals related to the company you are interested in.

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Beneficial Owners, Ownership & Control Structure

According to the Money Laundering and Terrorist Financing Prevention Act, companies must apply certain due diligence measures and follow the so-called customer know-how principle in order to manage the risks related to money laundering and terrorist financing.

Querying the more common search engines will not help prevent potential money laundering and terrorist financing in business.

The information found from public sources is not reliable or extensive enough to comply with the law and organize anti-money laundering activities!

Our KYC Utility is the only right tool to secure your back in international business relations and to the extent required by law.

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Useful Services for Better Client Knowledge

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Credit Score Report

When making an important credit decision, concluding a sales, agency or cooperation agreement, it is necessary to know whether the business partner will be able to fulfill its obligations in the future.

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Overview of payment behavior and business results

E-Krediidiinfo.ee is the largest business information database in Estonia, which allows you to gather background information on business results, related parties and payment behavior of Estonian companies.

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Client Monitoring

Companies’ monitoring service will always keep you up to date with what is happening in your clients’, business partners’ and competitors’ companies. Information that reaches you in time helps to prevent quite a few unpleasant surprises.

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