AML/CFT: Strategy for Detecting ‘Negative News’

How to Develop a Proactive Detection Strategy for “Negative News”?

Here’s a detailed guide for implementing an effective strategy for detecting “negative news”:

1-Needs and Risk Analysis:

-Identify the main areas of your institution that may be exposed to “negative news” risks, such as business partnerships, clients, suppliers, etc.

-Assess the potential consequences for your company if “negative news” goes undetected, particularly in terms of reputation, regulatory compliance, and financial risks.

2-Defining Search Criteria:

-Identify specific criteria you will use to search for “negative news,” such as keywords, names of individuals or companies, sectors, geographical regions, etc.

-Develop a comprehensive list of relevant terms and search parameters to cover a wide range of information sources.

3-Choosing Monitoring and Filtering Tools:

-Research and select media monitoring and filtering tools that suit your needs, considering factors such as media coverage, result accuracy, and compatibility with your existing IT systems.

-Ensure that the chosen tools offer advanced features such as real-time monitoring, semantic analysis, and the ability to track multiple sources.

4-Establishing Automated Processes:

-Set up monitoring tools to automate the process of searching for and filtering “negative news” using the previously defined criteria.

-Implement automated alert systems to quickly notify when “negative news” is mentioned that meets predefined criteria.

5-Setting Thresholds and Alerts:

-Define thresholds to trigger alerts based on the severity of identified “negative news,” considering your institution’s risk tolerance.

-Customize thresholds based on different types of risks and various sectors of your business.