ARE YOU PAYING TOO MUCH FOR YOUR SANCTION, PEP AND ADVERSE MEDIA DATA?
04/03/2022
Now is the time to risk screen your client base regularly [if not daily], but it should not come at a cost that stretches your resources.
The following is a copy of an email I sent today [with certain redactions] that shows SANCTION, PEP AND ADVERSE MEDIA SEARCH data is affordable if you know whom to ask.
If you are paying too much, message me, and I will offer you the same as below. And if you have more significant data needs than 750, you will be pleased to know the cost gets keener with more extensive datasets [volume].
Dear x-x-x-x-x-x
You asked about the COMSURE ITRACK SANCTION, PEP, and ADVERSE MEDIA SEARCH capability and prices.
You have advised that you currently pay XX[REDACTED SEARCH PROVIDER] £1,050.00 for:-
- 500 standard credits (£2.10 PER CREDIT / NAME SEARCH)[ONE OFF SEARCHES] for SANCTION PEP AND ADVERSE MEDIA DATA
Comsure can offer a similar [albeit better] service that is more cost-effective; I can show this as follows:-
- 750 UNIQUE NAME SEARCHES BASIC SANCTION PEP AND ADVERSE MEDIA DATA for
- £1,500.00 [£1500.00/750= £2.00 = PER CREDIT / NAME SEARCH
- £1,500.00 + 375 (automatic overnight monitoring) [£1875.00/750= £2.50 PER CREDIT / NAME SEARCH]
PLEASE NOTE the difference between ONE-OFF SEARCHES and UNIQUE NAME SEARCHES – as this is important.
The following will illustrate the cost-saving you will receive for an enhanced 24/7, 365 oversight screening service.
- If you were searching for a name, e.g. Mathew Beale
- On your XX system, this would cost [x1] credit [£2.10] per search – so if you performed [x3] searches a year would equal = £2.10 x 3 credits = £6.30
- On the Comsure iTrack solution, the cost would be [x1] credit £2.00/£2.50 only – but there is no further recharging when you search again, so [x3] searches remain at [x1] credit of £2.00/£2.50 only. So if you searched for Mathew Beale every night for 365 nights, the cost will be [x1] credit £2.00/£2.50 only [compared to xx who would charge £766.50 (£2.10 x 365)]
Let me know if you want any further information at this time
Mathew Beale - Chartered FCSI
Principal (Director) - Comsure Compliance Limited, Comsure Technology Limited (the "Comsure Group of Companies") - No 1 Bond Street Chambers, St Helier, Jersey, Channel Islands, JE2 3NP - Direct Tel: +44 (0) 1534 626841 - Mobile Tel: +44 (0) 7797 747 490 - Skype: comsurecompliance - mathewbeale@comsuregroup.com - www.comsuregroup.com
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.