SCREENING AND MONITORING DATA TO ENSURE THAT A SUBJECT ENTITY COMPLIES WITH LAWS AND REGULATIONS
There is provided a method that includes (a) receiving an electronic communication that includes a description of a subject entity, (b) matching the input record to data in a first database, where the data includes an identifier of the subject entity, (c) generating a consolidated input that includes the description and the identifier, (d) searching a second database for adverse information concerning the subject entity, based on the consolidated input (e) producing a result that indicates whether the searching yielded the adverse information, and (f) issuing, by way of an electronic communication, a report that includes the result. There is also provided a system that performs the method, and a storage device that contains instructions for controlling a processor to perform the method.
1 . A method, performed by a processor in accordance with instructions in a memory device, comprising:
receiving an electronic communication that includes an input record that includes a description of a subject entity;
matching said input record to data in a first database, wherein said data includes an identifier of said subject entity;
generating a consolidated input that includes said description and said identifier;
searching a second database for adverse information concerning said subject entity, based on said consolidated input;
producing a result that indicates whether said searching yielded said adverse information; and
transmitting an electronic communication that includes said result.
2 . The method of claim 1 , wherein said identifier is a Data Universal Numbering System (DUNS) number.
3 . The method of claim 2 , further comprising:
obtaining, from a third database, based on said DUNS number, additional information concerning said subject entity; and
including said additional information in said consolidated input.
4 . The method of claim 3 ,
wherein said additional information identifies a business entity that is related to said subject entity in a family tree, and
wherein said adverse information includes adverse information concerning said business entity.
5 . The method of 3 , further comprising,
monitoring said data in said first database and said adverse information;
detecting a change in either of said data or said adverse information;
generating an updated result that indicates said change; and
transmitting an electronic communication that includes said updated result.
6 . The method of claim 3 , further comprising:
transmitting an electronic communication that includes a request for a representative of said subject entity to provide first requested information about said subject entity;
receiving an electronic communication that includes said first requested information;
transmitting an electronic communication that includes a request for an investigator that is not affiliated with said subject entity to provide second requested information about said subject entity;
receiving an electronic communication that includes said second requested information; and
including said first requested information and said second requested information in said consolidated input.
7 . A system, comprising:
a processor; and
a memory that contains instructions that when read by said processor cause said processor to:
receive an electronic communication that includes an input record that includes a description of a subject entity;
match said input record to data in a first database, wherein said data includes an identifier of said subject entity;
generate a consolidated input that includes said description and said identifier;
search a second database for adverse information concerning said subject entity, based on said consolidated input;
produce a result that indicates whether said searching yielded said adverse information; and
transmit an electronic communication that includes said result.
8 . The system of claim 7 , wherein said identifier is a Data Universal Numbering System (DUNS) number.
9 . The system of claim 8 , wherein said instructions also cause said processor to:
obtain, from a third database, based on said DUNS number, additional information concerning said subject entity; and
include said additional information in said consolidated input.
10 . The system of claim 9 ,
wherein said additional information identifies a business entity that is related to said subject entity in a family tree, and
wherein said adverse information includes adverse information concerning said business entity.
11 . The system of 9 , wherein said instructions also cause said processor to:
monitor said data in said first database and said adverse information;
detect a change in either of said data or said adverse information;
generate an updated result that indicates said change; and
transmit an electronic communication that includes said updated result.
12 . The system of claim 9 , wherein said instructions also cause said processor to:
transmit an electronic communication that includes a request for a representative of said subject entity to provide first requested information about said subject entity;
receive an electronic communication that includes said first requested information;
transmit an electronic communication that includes a request for an investigator that is not affiliated with said subject entity to provide second requested information about said subject entity;
receive an electronic communication that includes said second requested information; and
include said first requested information and said second requested information in said consolidated input.
13 . A tangible storage device comprising instructions that when read by a processor, cause said processor to:
receive an electronic communication that includes an input record that includes a description of a subject entity;
match said input record to data in a first database, wherein said data includes an identifier of said subject entity;
generate a consolidated input that includes said description and said identifier;
search a second database for adverse information concerning said subject entity, based on said consolidated input;
produce a result that indicates whether said searching yielded said adverse information; and
transmit an electronic communication that includes said result.
14 . The tangible storage device of claim 13 , wherein said identifier is a Data Universal Numbering System (DUNS) number.
15 . The tangible storage device of claim 14 , wherein said instructions also cause said processor to:
obtain, from a third database, based on said DUNS number, additional information concerning said subject entity; and
include said additional information in said consolidated input.
16 . The tangible storage device of claim 15 ,
wherein said additional information identifies a business entity that is related to said subject entity in a family tree, and
wherein said adverse information includes adverse information concerning said business entity.
17 . The tangible storage device of 15 , wherein said instructions also cause said processor to:
monitor said data in said first database and said adverse information;
detect a change in either of said data or said adverse information;
generate an updated result that indicates said change; and
transmit an electronic communication that includes said updated result.
18 . The tangible storage device of claim 15 , wherein said instructions also cause said processor to:
transmit an electronic communication that includes a request for a representative of said subject entity to provide first requested information about said subject entity;
receive an electronic communication that includes said first requested information;
transmit an electronic communication that includes a request for an investigator that is not affiliated with said subject entity to provide second requested information about said subject entity;
receive an electronic communication that includes said second requested information; and
include said first requested information and said second requested information in said consolidated input.