New Negative News Search Capability

NominoData™ and Integra Systems Queensborough™ Partner for Negative News Integrated Search Capability

The Negative News search engine provides compliance professionals a tool to access the latest and historical negative news for screening individuals and corporate accounts. The compliance solution significantly enhances the due diligence process by revealing risk relevant negative behavior.  Focused matching and an extensive data cache provide a more effective and efficient search solution compared to Google and other negative news search engines. The benefit is real-time risk information delivered at an aggressive price.

“We know the challenges resulting from heightened regulatory scrutiny and transparency demands placed on Financial Institutions to know their customers,” said Robert Goldfinger, President, NominoData. “I know how important it is to get relevant risk entity information pertaining to Negative News, Sanctions/Watch-lists and PEPs to the business units and people who need it. Our solution when combined with Integra’s technology platform brings a compelling value proposition to the market.”

What makes the partnership unique?

NominoData provides Integra Systems with industry leading negative news and enhances their technology platform and end user experience. Integra Systems provides decades of financial and regulatory experience with flexible and customizable compliance solutions. NominoData has successfully provided an efficient way for organizations to search Negative News.

The NominoData and Integra Systems blend has helped bring Negative News to the forefront of risk management.  NominoData has a unique Negative News search capability that provides companies with important risk related data pertaining to customers and other business contacts. It’s all about obtaining knowledge that results in reducing risk and meeting regulatory compliance mandates. Integra System’s platform, IQAutoscan™ ,  makes the Negative News search seamless for all involved. IQ AutoScan™ can easily be integrated into any existing system to take advantage of Negative News.

NominoData and Integra Systems are helping organizations save time, save money, and stay compliant.

“Our systems take a complex task and make performing a search simple. A typical Google search may have thousands or millions of hits and 99% of them are not relevant to the due diligence effort. We provide date and time-stamped auditing capabilities and reporting. You just type in the name and Nomino’s unique algorithm finds all risk relevant negative news on that individual, PEP or company within seconds. NominoData’s extensive Negative News cache is an industry leader. It’s truly a game-changer for the industry.” – Patrick Brown

Who is NominoData?

NominoData LLC (www.NominoData.com) is a technology company formed to help clients with worldwide identity, compliance and risk management issues associated with modern day commerce. Ranging from banks to multinational corporations, NominoData provides a combination of industry-leading technology online. Our founders harness their collective intelligence and leverage their expertise in Risk Management, Security, Search, Name /Entity recognition, data analysis and extraction into innovative and productivity-boosting products that revolutionize their field. NominoData also provides consulting services to help organizations stay compliant with executive level criminal investigation services and CAM’s.

Who is Integra Systems?

Integra Systems (www.IntegraSystems.net) was formed in 1994 by banking and IT professionals. The company has extensive experience in regulatory compliance, lending, operations, and financial reporting. Integra Systems helps industries with OFAC, BSA, Patriot Act, and Red Flag (ID verification) requirements. In addition, Integra Systems provides interfaces to third parties, which integrates our solution set within companies’ internal systems.

Solutions Contact

Robert Goldfinger, President

NominoData

rgoldfinger@nominodata.com

 

Patrick Brown, President/CEO, CAMS

Integra System Queensborough

SOC 2 Type 2 Audited Solutions

pbrown@integrasystems.net

Client Satisfaction

How do you know which organization to help you remain compliant? Quite a few companies might offer solutions to help you tackle red flag rules or become OFAC compliant. So it’s easy to see what’s similar:

  • Identify verification solutions
  • Fraud prevention solutions
  • Multitude of watch lists like:
    • PEP
    • EU/UN/UK
    • FinCEN

With so many similarities, why choose Integra?

After 18 years in banking and finance we have been able to create off-the-shelf and integrated products to meet any organizations unique needs. We provide many of the product solutions for OFAC compliance, the Bank Secrecy Act and Risk Assessment.  We’ve streamlined our services by offering web service integration in order to provide you with “real time” calls for OFAC and ID verification.

We value relationships at Integra. Our clients can call us anytime – they don’t get a call center. We gauge our success on our ability to help our clients.

We do what we can to help! We could go on and on about why this is true, but we hope this letter from a client helps you see that we really mean what we say.

 

The “Watch List”

What is the watch list?

Watch List is our nation’s version of the “Naughty List” without Santa Claus.  If you are on the “Naughty List,” good luck trying to board a plane, enter the United States of America or receive a visa without a couple of crazy weeks or… months.

The government is up front about having the Watch List; they don’t try to make it secret… however, the names of people on that Watch List are “hush-hush” and only made available to businesses and organizations (like banks, airports, etc.)  This list is huge (over 755,000 names and pseudo-names) and was once multiple lists that were being shuffled around to all the federal agencies.

The FBI Terrorist Screening Center (TSC) brought all of them together to create one BIG MASTER LIST: “The Watch List.”  (This all came about when President Bush signed the Homeland Security Presidential Directive 6 in 2003.) 

To be on the list, the person would have to be suspected or have engaged in behavior of any sort relating to terrorism.  For example:  have a criminal record for terrorist-related activities or known terrorist associations/organizations OR be an active member in an extremist group.  If a name matches a name on this watch list, their life can change dramatically.

You may be:

Flagged for things regulated by the federal government:

  • Air travel (53,000 people were stopped and questioned from December 2003 to May 2007… but most were released for lack of evidence.  
  • Border crossings
  • Speeding ticket
  • Engage in other suspicious terrorist activity

Flagged from the public list when trying to:

  • Open a bank account
  • Do any sort of financial transfers
  • Buy a car
  • Rent a car, etc

So… let’s just say every financial move can become monitored. Watch list people are specifically not allowed to do ANY financial business within the U.S.

Are you OFAC compliant?

If your organization/business conducts business with someone on this list, your business might be added to the Watch List.  If you are unsure about the thoroughness of your ability to check the list, just give us a call. We help organizations search all the names thoroughly without negatively impacting your business.  www.integrasystems.net

What is OFAC?

What is this OFAC?

Repeat after me, Office of Foreign Assets Control (run by the US Dept. of Treasury). That’s a mouth full.

What does OFAC do?

OFAC manages and implements financial and trade authorizations (sanctions).  They closely monitor and in some cases, freeze assets (under the U.S. authority) of targeted foreign countries, regimes, terrorists, international narcotics traffickers, those involved in manufacturing and selling weapons of mass destruction, and other threats to the U.S. economy, national security or foreign policy.  These sanctions require collaboration with allied governments and are based upon the United Nations’ directives.  (Whew!)

So, there’s an OFAC list I’m supposed to do something with?

OFAC lists individuals and organizations that the government suspects of terrorism or having ties to terrorism. If they are on the list, their assets have or will soon be frozen! Funding organizations with terrorist ties (as listed by OFAC) is illegal. If OFAC finds that your organization is violating the lists, there are major fines involved.  (We are talking MAJOR fines… yikes!)

Understanding OFAC and how to become compliant can be a challenge.

If you have any questions, give us a call or send us a message.