GreyList tools are used in the following areas:
The regulatory environment for financial institutions is becoming ever more challenging. The traditional “box-ticking” approach is no longer sufficient. GreyList tools help firms to adopt more pro-active, risk-based assessments for understanding and managing the real (direct and indirect) risks to which they are exposed – without the need to increase resources or upgrade systems.
Similarly, managing risk and uncertainty in financial markets, especially private assets, requires a more dynamic and holistic approach. GreyList tools can help identify potential fraud and deception, idiosyncratic risks that are not discoverable using risk modelling.
GreyList tools help companies to understand better the true fraud, sanctions and corruption risks in their businesses.
It is critical to carry out enhanced due diligence by “looking through” higher-risk clients, suppliers, intermediaries and counterparties for any hidden or indirect risks that are not visible using conventional methods. This can be done very quickly and cost-effectively using GreyList tools.
GreyList can improve the effectiveness and efficiency of strategies for fraud identification and prevention, error reduction and asset recovery across the entire public sector.
GreyList tools are deployable in two main ways: (i) integrated with existing systems for very-high volume screening; and (ii) used in investigations to focus very quickly on the real areas of interest and risk.
Platform businesses can be accessed by “bad actors” who could use them for executing dubious transactions.
GreyList tools can help identify these often hidden risks in a discreet way that allows platform owners to maintain effective control while maximising access. This is critical for franchise value.
Fraud and organised financial crime dynamics have become more sophisticated and global in nature. Using GreyList tools to sift quickly through huge amounts of information enables more focused intelligence gathering and faster execution of investigation and enforcement cases.
Law Firms, Forensic Accountants & Investigators
GreyList tools are used in investigations and litigation to isolate quickly crucial evidence for substantiating claims in various situations, reducing the amount of resource-intensive investigation required.
To our knowledge, there have been no successful challenges to evidence based on a GreyList report.