Client screening

Stay informed and up-to-date with the ICAEW Library & Information Service's company research services. Obtain client screening reports checking against a wide range of industry, law and regulatory lists. This service is free of charge but only available for ICAEW members. We will carry out a maximum of five name checks from a single firm per week.

As from 17 October 2011, the number of client screenings we provide per week was reduced to five. This change was made necessary by the high demand for this service.

If you would like to discuss your requirements, get help in identifying the materials that you need or have any difficulty in finding resources, please contact the enquiry team by phone on +44 (0)20 7920 8620, by fax on +44 (0)20 7920 8621 or by email at library@icaew.com and we will be pleased to help.

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If you are visiting the library in person, you can create your own client screening reports using our self-service computers.

What are client screening reports?

Client screening data is supplied by Thomson Reuters Accelus. The database checks names against industry, law and regulatory lists (such as the Office of Foreign Assets Control, Bank of England, EU and Financial Crimes Enforcement Network), which identify restricted, sanctioned, prohibited and high-risk individuals and businesses.

This includes known terrorists, money launderers, fraudsters, politically exposed persons (PEPs) and black-listed persons, entities and countries. Under international anti-money laundering (AML) regulation, foreign PEPs also need to be identified and assessed to ensure that no proceeds of foreign corruption enter the world economic system.

Each screening report checks one name against all restricted lists. We will provide you with two reports per name, one that includes spelling variations on the name provided and one that includes synonyms for the name. A maximum of five names (either individuals or companies) per week may be checked free of charge using our service.

Bodies and organisations within the screening database

Names are checked against a screening database, which uses information provided by international government, law enforcement and regulatory enforcement agencies and other bodies. New organisations are periodically added to the database and the current list given below is accurate as at 10 March 2011. Your client screening report will show you a complete list of which bodies have been searched.

Sanctions

This gives details of individuals, companies and vessels with whom national or supranational bodies have decreed firms should not have financial dealings. Dealings with these designated persons or entities can lead to large fines, jail sentences and increased regulatory oversight owing to perceived failures in systems of internal control.

• Australian government sanctions list
• Commission de Surveillance du Secteur Financier, Luxembourg
• Commonwealth of Australia Law
• De Nederlandsche Bank, Netherlands
• Department of Foreign Affairs and Trade, Australia
• European Union
• Financial Services Agency, Japan
• Guernsey Financial Services Commission
• HM Treasury (formerly Bank of England)
• Home Office
• Hong Kong Monetary Authority
• Isle of Man Financial Supervision Commission
• Jersey Financial Services Commission
• Monetary Authority of Singapore
• Ministry of Finance, Japan
• Office of Foreign Assets Control (OFAC), United States
• Office of the Superintendent of Financial Institutions, Canada
• Reserve Bank of Australia
• State Secretariat for Economic Affairs
• United Nations Security Council Committee
• US Department of State

Law enforcement

This gives details of persons wanted by the Federal Bureau of Investigation and Interpol in connection with various crimes. Any dealing with these individuals is information that could assist in their apprehension by the authorities.

• Central Bureau of Investigation, India
• Central Narcotics Bureau, Singapore
• Cheshire Constabulary, UK
• City of London Police, UK
• Devon & Cornwall Constabulary, UK
• Federal Bureau of Investigation (FBI), United States
• Federal Investigation Agency
• General Police Directorate, Slovenia
• Hampshire Police, UK
• Hong Kong Police Force
• Interpol
• Lancashire Constabulary, UK
• Metropolitan Police Service, UK
• Ministry of Home Affairs - Government of India
• National Crime Squad, UK
• North Yorkshire Police, UK
• Nottinghamshire Police, UK
• Philippines National Police
• Royal Embassy of Saudi Arabia
• Royal Malaysian Police
• Serious Organised Crime Agency
• South African Police Service
• Surrey Police, UK
• Thames Valley Police, UK
• US Air Force Office of Special Investigations
• US Bureau of Alcohol, Tobacco, Firearms and Explosives
• US Drug Enforcement Administration
• US Immigration and Customs Enforcement
• US Marshals Service
• US Naval Criminal Investigative Service
• US Postal Inspection Service
• US Rewards for Justice
• US Secret Service
• Warwickshire Police, UK

Regulatory enforcement

The enforcement section gives details of regulatory actions against firms and individuals. Although there may be no reason why an enforcement action should prevent you from dealing with a customer, this knowledge of an individual or company may be useful in assessing whether you wish to deal with them, or in considering a reassessment of their credit rating. This information may also be used in vetting prospective employees, particularly those working in controlled functions, where obtaining regulatory approval is imperative.

UK enforcement bodies

• Assets Recovery Agency
• Financial Services Authority (FSA)
• Gibraltar Financial Services Commission
• Guernsey Financial Services Commission
• HM Revenue and Customs
• Investment Management Regulatory Organisation
• Isle of Man Financial Supervision Commission
• Jersey Financial Services Commission
• Lloyd's Insurance Market
• Personal Investment Authority
• Securities and Futures Authority

African and Asia-Pacific enforcement bodies

• Australian Prudential Regulation Authority
• Australian Securities and Investments Commission
• Bank of Israel - Enforcements
• Central Bureau of Investigation, India
• China Securities Regulatory Commission
• Financial Services Agency, Japan
• Financial Services Board, South Africa
• Financial Services Commission, Mauritius
• Hong Kong Monetary Authority
• Hong Kong Securities and Futures Commission
• Indonesian Capital Market Executive Agency (Bapepam)
• InvestED – Hong Kong SFC
• Monetary Authority of Macao
• Monetary Authority of Singapore
• Reserve Bank of India
• Securities and Exchange Board of India
• Securities and Exchange Commission of Pakistan
• Securities and Exchange Commission, Republic of the Philippines
• Securities and Exchange Commission, Thailand
• Securities and Exchange Surveillance Commission, Japan
• Securities Commission of New Zealand
• Securities Commission, Malaysia

North American enforcement bodies

• Alberta Securities Commission, Canada
• Autorité des Marchés Financiers, Canada
• British Columbia Securities Commission, Canada
• California Department of General Services
• Commodity Futures Trading Commission (CFTC)
• Federal Deposit Insurance Corporation, United States
• Federal Reserve Board, United States
• Federal Trade Commission, United States
• Financial Crimes Enforcement Network (FinCEN)
• FINRA, United States
• Investment Dealers Association of Canada
• Investment Industry Regulatory Organisation of Canada
• Manitoba Securities Commission, Canada
• Market Regulation Services Inc., Canada
• Mutual Fund Dealers Association of Canada
• National Credit Union Administration, United States
• National Futures Association, United States
• New York Stock Exchange, United States
• Nova Scotia Securities Commission
• Office of Foreign Assets Control (OFAC), United States
• Office of the Comptroller of the Currency, United States
• Office of the Superintendent of Financial Institutions, Canada
• Office of Thrift Supervision, United States
• Ontario Securities Commission, Canada
• Saskatchewan Financial Services Commission, Canada
• Securities and Exchange Commission (SEC), United States
• Securities Commission of Newfoundland and Labrador, Canada
• US Court of International Trade
• US Department of Justice

European enforcement bodies

• Autorité des Marchés Financiers, France
• BaFin – Federal Financial Supervisory Authority, Germany
• Banking, Finance and Insurance Commission (CBFA), Belgium
• Banque de France, CECEI, France
• Banque de France, Commission Bancaire, France
• Capital Market Commission, Greece
• Comision Nacional del Mercado de Valores, Spain
• Commission de Surveillance du Secteur Financier, Luxembourg
• Commissione Nazionale per le Societa e la Borsa, Italy
• Cyprus Securities and Exchange Commission
• Czech National Bank
• Danish Financial Supervisory Authority
• Financial and Capital Market Commission, Latvia
• Financial Market Authority, Austria
• Financial Market Authority, Slovakia
• Financial Regulator, Ireland
• Financial Supervisory Authority of Norway (Kredittilsynet)
• Finnish Financial Supervision Authority
• Hungarian Financial Supervisory Authority
• Insurance Supervisory Commission of the Republic of Lithuania
• Malta Financial Services Authority
• Netherlands Authority for the Financial Markets
• Polish Securities and Exchange Commission
• Portuguese Securities Market Commission (CMVM)
• Securities Commission of the Republic of Lithuania
• Securities Market Agency, Slovenia
• Swedish Financial Supervisory Authority (Finansinspektionen)
• Swiss Federal Banking Commission

Latin American and Caribbean enforcement bodies

• British Virgin Islands Financial Services Commission
• Cayman Islands Monetary Authority
• Central Bank of Belize
• Central Bank of The Bahamas
• Chilean Securities and Insurance Supervisor
• Comisión Nacional de Valores, Argentina
• Comision Nacional Supervisora de Empresas Y Valores (CONASEV), Peru
• International Financial Services Commission (IFSC), Belize

High Profile Persons data

This gives details of high-ranking government officials in over 200 countries. Although there may be no reason why you should not do business with these individuals, the Basle Committee on Banking supervision has stated that one should check these customers because without this due diligence, banks can become subject to reputational, operational, legal and concentration risks, which can result in significant financial cost.

• Central Intelligence Agency (CIA) – Heads of State/Government

Other bodies

The bodies detailed here, the Bureau of Industry and Security (BIS) and the World Bank, issue notices if they consider a person or company to be in breach of US export regulations in the case of the BIS, or if they consider the person to have behaved improperly in the World Bank procurement process. Again, although there may be no reason why an action should stop you from dealing with a customer, this knowledge of the customer may be useful in assessing whether you wish to deal with them.

• Bureau of Industry and Security
• Centro Mexicano Para La Filantropia (CEMEFI)
• Companies House
• Financial Action Task Force
• Ministry of Economy, Trade and Industry, Japan
• World Bank

PEP Intelligence

• PEP Intelligence Database (PEP Desk™)

ICAEW guidance

For more information on client identity verification, please refer to the CCAB money laundering guidance and see further guidance on money laundering from the ICAEW.

Electronic client identification resources will not always be suitable for all your client identification needs. For further information please read the guide to Money Laundering – Electronic Client Identification Resources.

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Disclaimer

When ordering a credit rating, risk or client screening report, please take note of Thomson Reuters's disclaimer statement.

When you receive your report, you should ensure that the search criteria we have used, the sanctions and watch lists checked and the data supplied meet your requirements.