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Retail Banking Compliance Solutions

Ensure timely compliance with regulations to avoid costly fines and penalties

Ensure regulatory compliance

Organizations often rely on one list source, the Office of Foreign Assets Control (OFAC), to comply with the Bank Secrecy Act and US PATRIOT Act. Utilizing the 'minimum requirement' to screen and monitor accounts is a resource-intensive task, yet does little to help identify fraud, money laundering and drug trafficking.

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Streamline compliance and reduce financial risk

The financial services industry is facing many challenges—including the need to comply with numerous regulations while attempting to better assess account risk to minimize exposure and losses. Failure to comply with these regulations can result in costly fines.

 

Compliance Data Center, Inc. (CDC)—a wholly owned subsidiary of Equifax—has been serving the financial services and securities industries for more than 40 years. CDC maintains a comprehensive database which includes multiple sources of information, such as various government and agency lists worldwide, as well as global media reports of white-collar criminal activity and terrorist-related activities.

 

CDC actively manages financial default information gathered from and extensively used throughout the investment industry. Our system's flexible architecture allows you to customize your services and our sophisticated search and matching logic minimizes unwanted false positives.

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