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D&B E-Commerce Solutions Product Brochure

The tools to truly Know Your Customer.

© Ellen Shapiro and D&B

All U.S. financial institutions face new responsibilities. Compliance with Section 326 of the Patriot Act will hold you responsible for verifying the identity of all accountholders, a daunting task for even the largest banks, brokerage firms and insurance companies. In October, every financial institution will be required to answer at least the following questions:
- Is the entity opening a commercial account a legitimate business?
- Are the business name, address and other identifying data complete, accurate and up to date?
- Are the account owner and beneficiaries who they say they are?
- Are any of them on a list of known or suspected terrorists?

A D&B Total Solution
To help the financial services industry meet this immense challenge, D&B has developed a real-time authentication tool: the D&B Patriot Compliance Solution. A portfolio and transactional solution, it allows you to build a risk-based KYC, anti-money-laundering process right into your existing system. With it, you can decide with confidence how to take action-for example, to block a new account or report a suspicious transaction to OFAC (Office of Foreign Asset Control).

The D&B Patriot Compliance Solution lets you leverage the D&B Global Database of more than 73 million business records from 217 countries, and gives you access to our Global Business Investigation Network, which uncovers information on unlisted entities.

Answers in Real Time
It Begins with Identifying Risk
Using our proprietary D-U-N-S® Number, we match all commercial accounts to the D&B Global Database. For new accounts this happens in real time, as the account is being opened. If requested, we also match and monitor them against control lists provided by U.S. and foreign government entities, including the OFAC list. For existing accounts, we perform file cleansing services, such as legal name standardization and de-duplication. The next step is our best-in-class business authentication process, which for new accounts can also typically be completed in real time. As an additional service, account owners' and beneficiaries' identities can be verified. All identifiable records are run through the customizable D&B Compliance Information Filter, where risk level characteristics pertinent to KYC, such as industry classification (SIC) and global corporate linkage (which untangles complex corporate structures and identifies geographic locations) are screened and identified. This process uncovers entities that fall within:
- High-Risk Industry Segments (luxury car, boat or aircraft dealerships, for example);
- High-Risk Geographical Profiles (the business has entities in Fair Haven countries);
- High Risk Indicator Models (the business has been involved in unscrupulous or illegal business activities).

The Information Is Delivered Directly to Your System
Our proprietary Data Integration Toolkit gives you the power to integrate the KYC process right into your institution's own account opening system. All new account openings are matched against the D&B database of 73 million records, and for every match that's found-experience shows it's the vast majority of applicants-the Toolkit delivers an XML Compliance Information packet directly into your account opening process.

Unmatched Records Are Investigated
Any entities not in our Database can be submitted to the D&B global business investigation network. Our thorough due-diligence efforts can build a complete record on any legitimate businesses, anywhere in the world.

Only D&B Can Provide This End-to-End Solution
Helping customers know who they're doing business with, what business they're in, and where they do business has been D&B's core competency for more than 160 years. D&B provides the information that helps organizations make judgment calls that make the difference between a risky decision and a confident one. Our database is the largest in the world. And no one else has our global reach.

It's Timely, Efficient and Cost-Effective
It is time-consuming, costly and frankly perilous to attempt to perform due diligence operations of this magnitude internally. Non-compliance penalties are massive and so is potential damage to your brand. The D&B Patriot Compliance Solution can provide answers in as little as seconds. You'll get a complete picture of every new commercial account. Staff time will be significantly reduced. Costly investigative site visits can be eliminated. And it's fast to set up; we're here to help you get the process implemented-now.

We're Flexible
We're ready to meet your institution's requirements. A range of configurations and options are available, all of which provide change monitoring and notification. Plus, with D&B, you'll get additional value-added elements, such as on-line risk-analysis of a customer's business and data delivered in a format that automatically posts to new account applications.

To Learn More
Contact your D&B representative today or e-mail patriotcompliance@dnb.com.