The good news is your negative media screening is working; the bad news is your client is in the headlines.
The discipline of “know your customer/client” (KYC) has grown beyond the verification of a name, address, ownership, and control. Nowadays it is an ongoing process, a living thing. Many regulators now expect firms to apply ongoing negative media screening to all high-risk client relationships. Moreover, financial crime compliance officers and anti-money laundering (AML) professionals need to demonstrate that they react to and manage negative media alerts relating to their clients.
