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CSI Partners with Kharon to Strengthen KYC and Sanctions Risk Management for International Transactions

CSI Partners with Kharon to Strengthen KYC and Sanctions

Computer Services, Inc., a provider of end-to-end fintech and regtech solutions, has partnered with Los Angeles-based Kharon, a research and data analytics company focused on security threats that affect global finance, to provide CSI customers a comprehensive set of tools to enhance their financial crime and trade control frameworks.

@CSIsolutions Partners with Kharon to Strengthen KYC and Sanctions Risk Management for International Transactions

Kharon’s solution complements CSI’s WatchDOG® Elite platform, which integrates customer data into a single software platform, ensuring an institution’s compliance with OFAC screening requirements, USA PATRIOT Act regulations and other international watch lists. Through Kharon, CSI’s customers will have access to 50 additional datasets, with an emphasis on European Union and other international data. These datasets include thousands of entities that do not appear on sanctions lists but are majority owned by sanctioned parties, presenting a high risk to U.S. companies conducting international transactions.

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“The 50% rule, in particular, continues to be a challenge for many businesses that do not have the internal resources to investigate and continuously update what can often be complex and extensive ownership chains. All Kharon’s datasets enable faster, more informed decision making, and therefore more robust compliance frameworks,” says Victoria Lumb, Head of Sales, Kharon. “We are delighted to partner with CSI. They share our ambition to empower businesses with better data and analytics while protecting them from the complications that arise from overscreening.”

CSI’s WatchDOG Elite platform is a web-based sanctions screening software that streamlines and consolidates the OFAC watch list screening process by combining an advanced search algorithm with the latest technology. The software provides real-time and retroactive screening integrated into existing payments and onboarding workflows. The platform incorporates detailed reports and audit trails, resulting in fewer false positives for a company’s staff to manage.

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“Kharon provides our customers with an even greater ability to fulfill their legal obligations and strengthen their risk policies when evaluating with whom to conduct business,” said Kurt Guenther, Group President, CSI Business Solutions. “Having access to such high-quality data on a global scale helps even the largest companies leverage the kind of intelligence that can transform their compliance program and ensure their business meets regulatory expectations.”

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