Industry’s First Compliance Solution for New US Iranian CISADA Sanctions
September 10, 2010, WILMINGTON, Del. (BUSINESS WIRE) -- RDC, the leading provider of sanctions solutions, today announced the industry’s first compliance solution for the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (“CISADA”), the expanded global Iranian restrictions signed into law by US President Obama significantly increasing compliance burdens on global financial institutions and corporations.
The Act broadens the extraterritorial reach of previous sanctions and imposes a stringent requirement to monitor and confirm that correspondent banking clients are not engaging with entities doing business with
RDC’s Iran Connect is the industry standard for assisting financial institutions worldwide in meeting their CISADA compliance obligations. Iran Connect augments a firm’s existing interdiction and monitoring activities by adopting a sanctions-plus approach, going beyond the four corners of international sanctions lists to highlight organizations and individuals with publicly known connections to the IRGC. Focusing on companies, vessels and individuals doing business in
Staffed by researchers with extensive knowledge of Iranian and international affairs and supervised by well regarded regulatory and law enforcement experts, RDC’s Iran Desk enhances Iran Connect daily. The Desk utilizes fully sourced public and historical documents including respected international scholarly publications, declassified government documents, reliable Farsi and Arabic sources, well-regarded international research organizations, investigative research documents, think-tanks, and global media to deliver this critical information to our clients.
“We strive to anticipate the critical needs of our clients,” said Tom Obermaier, RDC’s CEO. “The demand for our Beta product was overwhelming and we transformed feedback from our clients into this new industry standard. This type of thought leadership is the reason why RDC is experiencing exponential growth.”
About RDC
Regulatory DataCorp Inc., also known as RDC, delivers powerful, decision-ready open source intelligence and world-class risk and compliance protection, allowing global organizations to identify banned/suspect entities, strengthen fraud protection, ensure regulatory compliance, manage supply and distribution risk, and protect their brand equity. With the world’s largest open source risk-relevant database, RDC provides AML/KYC compliance; Politically Exposed Persons (PEP) protection; emerging market intelligence; corruption, fraud and crime protection; vendor screening and monitoring; and credit risk monitoring to a wide range of clients worldwide. Founded by 20 of the world’s leading financial institutions, today RDC is also a Bain Capital and Goldman Sachs portfolio company. For more information, call 888-533-1181 or visit www.rdc.com.
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