Descriptive Vocabulary

IndueD Vocabulary

Moira de Kwant avatar
Written by Moira de Kwant
Updated over a week ago

DUNS®: The D-U-N-S number is a unique 9-digit code that identifies a company or business entity within the Dun & Bradstreet Global Database.

Third party: A corporate entity that has entered into an agreement with, or is a potential business partner of the Customer

Records: A Third Party that is part of the KYC process. Each record is linked to 1 DUNS Number and is identified as such throughout the process.

Input Entity: The initial third party where the investigation starts.

KYC: Know Your Customer – the set of actions aimed at collecting and screening of data on the merchant in function of a properly implemented compliance policy.

indueD: web-based Compliance platform from Altares-D&B

Watchlist Provider: Partner that provides the database of Sanctions, PEPs and Adverse Media content

Enrichment: The process of collecting relevant compliance data from the Global D&B Database in indueD.

Screening: Matching of relevant compliance data elements against the sanctions database of a Watchlist Provider

Compliance report: A report generated in indueD that contains the full results of the screening and False Positive Management.

Potential Match: Result of screening process. This is a potential hit between the screened person/entity and the Sanctions Database. Needs to be reviewed in False Positive Management

False Positive Management (FPM): The review of potential matches with sanctioned entities, PEP database or adverse media content that have occurred during the screening.

Sanctions: Risk Category in indueD related to listings on Sanctions Lists. This includes but is not limited to OFAC, EU and UN sanctions

PEP: Politically Exposed Person as defined by the Watchlist Provider

Adverse Media: Media articles related to the screened person/company as defined by the Watchlist Provider

Beneficial Owners: The Ultimate Beneficial Owners of the input entity. The natural persons who are ultimately the owners of the entity.

Shareholders: Shareholders of the third parties. This can be natural persons as well as legal persons.

Principals: Umbrella concept to indicate all directors and authorized representatives within a company.

API: Application Programming Interface – a set of definitions used by a computer application that can communicate with another application (or a part of it).

Audit Trail: The way all activities for one file are recorded. Of each action performed logs are recorded with date stamps to retain overview of activities in terms of an audit trail.

Parent Organization: Direct Parent organization of the involved entity.

Domestic Ultimate: Highest parent entity within the country of the involved entity.

Global Ultimate: Highest parent entity worldwide of the involved entity.

Portfolio: Overview of all Records added to the Portfolio by the Customer in indueD

Ownership Threshold: Level of UBO ownership % that will be included in the screening.

Match Confidence: Level of Match % that will be displayed in indueD. The Match Confidence indicates the similarity between a screened person/entity and a profile in the Sanctions Database.

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