LexisNexis Risk Solutions Secures Awards for Fraud and Trade Compliance Solutions at Regulation Asia Awards for Excellence

11/04/2024

HONG KONG / SINGAPORE — LexisNexis Risk Solutions® won two awards at the Regulation Asia Awards for Excellence 2024. It triumphed in the Fraud and Financial Crime category for Best Anti-fraud Solution (Vendor) and Best Trade-based Money Laundering (TBML) and Trade Compliance Solution.

The Regulation Asia Awards, now in its seventh year, received more than 190 submissions this year, marking the highest participation to date. The selection process involved detailed evaluations by Regulation Asia’s editorial and research teams, alongside prominent industry experts.

LexisNexis® ThreatMetrix won the Best Anti-Fraud Solution (Vendor) Award for the third consecutive year, underscoring its essential role in providing actionable risk intelligence. It enables customers to more accurately determine if a transaction originates from a trusted user or poses a potential threat. By identifying suspicious behavior and strengthening fraud defenses, ThreatMetrix® effectively protects valuable transactions and minimizes cybersecurity risks.

“As financial fraud risks grow in complexity, firms like LexisNexis Risk Solutions are indispensable in fostering a secure and resilient global financial system,” said Bradley Maclean, co-founder of Regulations Asia and chair of the awards committee. “Its approach to adaptive fraud detection and regulatory alignment provides institutions with a reliable toolset to navigate and mitigate risks in an increasingly challenging environment.”

"We are honored to receive these prestigious awards, which affirm our dedication to pioneering fraud prevention and risk management solutions," said Thanh Tai Vo, director, identity and fraud, APAC at LexisNexis Risk Solutions. "Through ThreatMetrix, we integrate digital identity intelligence, machine learning, and global intelligence to offer near real-time fraud risk assessments. Using LexisNexis® Digital Identity Network®, ThreatMetrix has become a reliable ally for businesses globally, delivering a comprehensive understanding of digital identities and facilitating secure risk-based decision-making."

LexisNexis® Firco™ Trade Compliance won the award for Best TBML and Trade Compliance Solution. It provides a comprehensive solution for banks to identify entities linked to money laundering, sanctions, terrorism, and other financial crime risks in their trade finance operations. It efficiently screens trade documentation data against sanctions, politically exposed persons (PEPs), dual-use goods lists and adverse media, all within a single interface. This process includes examining trade counterparties, freight and cargo firms, vessels and their beneficial owners. Organizations must ensure compliance by not only screening parties but also checking the vessels and commodities involved in trade transactions.

“LexisNexis Risk Solutions’ innovative and data-driven approach provides financial institutions with a powerful ally in the fight against TBML and other trade-related risks, offering the agility and precision needed to navigate these high-stakes risks,” said Maclean. “The platform’s effectiveness in detecting and preventing illicit trade transactions sets a high standard for the industry, reinforcing resilience and integrity across the global financial ecosystem.”

"We are honored to receive the Best TBML & Trade Compliance Solution award from Regulation Asia,” said Rohit Mittal, director, financial crime compliance at LexisNexis Risk Solutions. “Firco Trade Compliance empowers our customers to make high-quality decisions and remain compliant as they conduct business worldwide, even in an increasingly complex regulatory environment."

About LexisNexis Risk Solutions
LexisNexis® Risk Solutions provides customers with information-based analytics and decision tools that combine public and industry-specific content with advanced technology and algorithms to assist them in evaluating and predicting risk and enhancing operational efficiency. Headquartered in metro Atlanta, Georgia, the company has offices throughout the world, serves customers in more than 190 countries and territories and is part of RELX. For more information, please visit LexisNexis Risk Solutions and RELX.