The danger of getting involved in financial crime through customers and business partners is significant. Here, unawareness does not protect against prosecution. Clearstream, as the central custodian for international capital markets and for securities in Germany and Luxembourg is therefore utilizing SMARAGD TCM.
Clearstream uses SMARAGD TCM to check the reference data of its customers and partners, and also monitor all transactions. The existing IT structure was adapted in cooperation between Clearstream's compliance department and a targens GmbH project team. 30 users are working on the system simultaneously.
As a result, 20,000 transactions per file can be processed in less than five minutes. Transaction checking is conducted in real time. Additional data sources for sanction verification have been added. The data is checked against Negative Media. And the System Document Scanning increases the examination depth.
“The cooperation between Clearstream and targens
is very intense. The customer is helping us evolve.
With his individual requirements
and active involvement."
Friedemann Hafa, Consultant, targens