The Commercial Bank of Dubai has chosen Complinet, a provider of solutions that dynamically deliver relevant compliance intelligence, as a compliance technology partner.
Commercial Bank of Dubai has implemented Complinet Global Screening WorkStation, an on-premise application that enables retrospective and continuous monitoring of clients against a global database of sanctions, enforcements, blacklists and politically exposed persons.
The bank relies on the WorkStation solution to evaluate customers and businesses, and crosscheck information against legal sources, to ensure the bank is not at risk from fraud, money laundering or other illegal practices that may affect its regulatory compliance status. The solution provides the necessary safeguards and real-time information required for the bank’s rigorous know your customer policies and processes. It is able to cope with the high volume of existing client data to be screened quickly and efficiently against a continuous flow of global sanctions and enforcement data. Complinet Global Screening WorkStation also guarantees a smooth and secure workflow, working within compliance procedures already in place at the Commercial Bank of Dubai.