Between 715 billion and 1.87 trillion Euros is laundered around the world each year, according to estimates from the United Nations Office on Drugs and Crime. That’s the equivalent of between 2 and 5 percent of global GDP. A key challenge in uncovering illicit financial flows is the incomplete picture analysts have, caused by poor … Continue reading Connecting the dots with network analytics? Why your next investigation needs White Box data
15:30 GMT / 10:30 ETTuesday 8th December 2020Webinar Register for webinar > Black Box company data is holding back the fight against financial crime. In a world where technology, transparency and inter-connected datasets are increasingly essential to uncover illicit activity involving companies – Black Box data is no longer fit for purpose. That’s why the … Continue reading [Webinar] Fighting Financial Crime: The White Box Company Data Revolution
The £37.8 million fine recently imposed on Commerzbank by the UK’s Financial Conduct Authority is just the latest in a long string of actions by regulators enforcing increasingly stringent anti-money laundering (AML) regulations around the world. In response, there has been a boom in the regulatory technology (RegTech) sector – accelerating the building of tech … Continue reading How White Box data helps RegTechs automate the verification step of due diligence
“OpenCorporates’ global company data, when integrated into our platform, allows anti-money laundering investigators to make better decisions faster by understanding the wider context behind a subject they are investigating”. Adam Mulliken, Senior Vice President of Analytics &General Manager for Financial CrimesQuantifind Challenge Investigations into money laundering and other financial crimes often start when unusual or … Continue reading Case study: Quantifind powers financial crime investigations using OpenCorporates’ data
“OpenCorporates’ data, when combined with Exiger’s DDIQ, enables our clients to verify who they are doing business with and uncover risk at scale. Millions of due diligence reports produced by DDIQ are driven in some way by OpenCorporates’ data, helping financial institutions and global companies mitigate corruption, financial crime and other integrity risks”.Aaron Narva, Senior … Continue reading Case Study: Exiger’s DDIQ automates due diligence verification using OpenCorporates’ data – helping identify risk at scale
Over the past month (18 February - 18 March) despite the challenging environment we are in, in the UK alone there were almost: 60,000 company incorporations 125,000 officers added to newly incorporated or existing companies, with almost 44,000 officers removed from companies51,000 companies that changed status Did you get all that? Surprisingly, most organisations doing statutory … Continue reading Corporate Signals: Enabling better KYC
Investigators from commercial and public-benefit organisations regularly use OpenCorporates data as part of investigations into illicit activity. Below is an exciting case study illustrating how 6 Degree Intelligence have combined our data with other datasets to reduce investigation time, and to provide cross-jurisdictional insight in financial crime and modern slavery investigations. “With OpenCorporates data and … Continue reading Case study: 6 Degree Intelligence cuts investigation time down to a fraction using OpenCorporates data
As global corporate organisations grow ever more complex and automation increasingly influences how business relationships evolve, the need for universally accessible non-proprietary data on corporate legal entities becomes more acute.
For the past 50 years, companies, regulators, investigators and journalists have mostly used ‘Black Box’ data - data that is opaque, not well defined, uses proprietary identifiers, and has poor data quality feedback loops. But continued reliance on this data could put a firm out of business within five years, according to a new report by OpenCorporates.
I’ve joined the OpenCorporates team as an Account Executive. I will be working to support and grow OpenCorporates’ clients and partnerships to support the public mission as much as possible.