Skip to content

    Sigma Ratings launches ongoing KYB & KYC monitoring

    Delivering ongoing monitoring to clients is a massive evolution of Sigma Ratings' platform, and our biggest launch to date. This release provides clients with proactive monitoring to manage potential and existing business relationships. In addition to a new KYC/KYB risk category, you can now continuously monitor for risk across all global datasets.

    Introducing a 14th risk category: KYC/KYB

    New KYC/KYB risk indicators are now accessible in all three Sigma solutions: Open Search, Monitoring, and Country Risk.

    KYC risk indicators enable onboarding due diligence through key identification fields. Monitoring can be achieved by setting up alerts for changes in one or more of the following fields: IDs; Country; Associations; Regulated Status; Live/Dead Status; Industry code and description.Screen Shot 2022-10-19 at 3.12.15 PM

    All datasets can be monitored

    You can now set up proactive alerts across all our datasets. This means you receive a notification when there are changes to monitored fields. In addition to external datasets, you can also monitor Sigma’s Proprietary Intelligence data, which has expanded information for association risk, major leaks (think FinCEN files, Pandora Papers and others), high-risk activities, and Russia-focused data.

    Through expert-trained AI and machine learning, easily derive actionable risk insights in our intuitive dashboard.

    While expansive, Sigma data sources have been carefully curated by our global team of dedicated financial experts and analysts to ensure quality results.

    Download Sigma Ratings' Data Sources Document

    Datasets distilled into 14 risk categories

    We organize insights based on what matters to your business. Here is a complete list of risk categories Sigma Ratings offers to help you make sense of data:

    1. *NEW* KYC: Identification of entities plus monitoring for any changes to critical fields
    2. Address: Monitor any risk related to addresses identified in entity records
    3. Adverse Media: Monitor news article determined to be risky & relevant to the entity based on financial crime & reputational risk methodologies
    4. Association: Monitor associations with, or relationship to, a sanctioned or high-risk entities
    5. Enforcement Action: Monitor any hit on a regulatory or enforcement action list
    6. Jurisdiction: Monitor any risk related to countries identified in entity records
    7. Leadership: Monitor any risk specific to the people in leadership positions at a company (e.g. CEO, management)
    8. Line of Business: Monitor any risk related to high-risk business lines (e.g. crypto, cannabis)
    9. PEP: Monitor any hit on a Politically Exposed Persons list (PEP levels are determined by a framework which includes FATF, UNCAC, EU Fourth AML Directive, JMSG, UK Regulations 2017/FCA, and Wolfsberg Group, with Level 1 indicating the highest level of political exposure)
    10. Registration Status: Monitor any risk that relates to an entities status with a registry or regulator
    11. Restricted Entity: Monitor any hit on a list relating to restrictions put on an entity that do not fit into Sanctions of Enforcement categories
    12. Sanctions: Monitor any hit on a direct or extended sanctions list, based on company being searched, or associated people
    13. State Owned Entity: Denotes an entity is a State Owned Entity, a sign of corruption risk
    14. Transparency: Monitor risks associated with existence in public databases or leaked documents, lack of transparency in company ownership, or internet presence

    New reports available

    Having a clear and organized audit trail is essential to smooth compliance operations. Enhancements to Sigma Monitoring includes added user reports on monitored entities, including the following:

    Screen Shot 2022-10-19 at 3.12.41 PMIf you would like to understand how ongoing KYB & KYC monitoring can simplify your due diligence processes, please reach us at info@sigmaratings.com.
    Product Updates Risk Management KYC/KYB

    Related Articles

    KYI - Know Your Influencer

    KYI - Know Your Influencer

    Last month, the Council on Foreign Relations reported that an arrest warrant issued by U.S. law enforcement for a prominent Nigerian policeman, for...

    Sigma Loading