Ingenique's cutting-edge screening solution turns due diligence into a breeze

When Singapore rolled out tighter cross-border anti-money laundering guidelines, accounting firms like Prudential Corporate Services and Ardent braced for steeper compliance costs coupled with a substantial increase in their workloads. Stricter regulatory requirements meant longer hours conducting due diligence on clients, a laborious process that sometimes involved manual searches on several sanctions lists and blacklists.

“We explored ways in which we can comply with the guidelines and integrate them into our client acceptance procedures so that due diligence checks on all new and existing clients and their principals will be enhanced,” shares Terence Ng, managing partner of Ardent. In their search for a solution to simplify due diligence checks, Terence chanced upon Ingenique Solutions’ trailblazing SentroWeb-DJ system at an accountancy industry event.

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