Malaysian Insurance Firm Seeks Watch List Data to Comply With Regulations
Reduces exposure to money laundering and illicit financing risk
Berjaya Sompo Insurance Berhad is one of the leading insurance groups in Malaysia, offering a wide range of both personal and business insurance.
To comply with local and international regulations, Berjaya Sompo Insurance Berhad needed to ensure they do not have business dealings with individuals and businesses that appeared on watch lists or entities that were potentially connected to money laundering and illicit financing.
With LexisNexis®WorldCompliance™ Data, Berjaya Sompo Insurance Berhad has access to a comprehensive database of risky individuals and entities and key data watchlists.
The LexisNexis WorldCompliance database has been essential to Berjaya Sompo’s success. It has helped the company to:
- Comply with local and international regulations
- Reduce its exposure to money laundering and illicit financing risks
- Conduct in-depth research on individuals when needed
- Increase screening efficiency and streamline onboarding
- Accelerate its payouts process
- Put resources to better use than manual research and data management
Want to know more? Read our Berjaya Sompo Insurance case study.
