SEC seeks web-risk intelligence solution

By Loren Blinde September 12, 2017

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On September 11, the U.S. Securities and Exchange Commission released a sources sought notice for a web-based risk intelligence solution. Brief capability statements are due by 12:00 noon Eastern Time on September 14.

The Securities and Exchange Commission (SEC) is seeking sources for a Commercial-Off-the-Shelf (COTS) web-based risk intelligence screening solution that provides risk intelligence related to money-laundering, terrorist activity, bribery of foreign government officials, corruption, and other types of risks.

The COTS solution shall enable users to check individual or entity names against a database of known heightened-risk individuals and entities. The database shall include government officials and their family members. Additionally, the solution shall include the following:

– Ability to search names of individuals and entities in order to determine if they present financial, regulatory, or reputational risk
– Ability to identify individuals on politically exposed persons and government sanctions lists
– Ability to search for negative news about individuals or companies and historical information about litigation in which they are involved
– Ability to screen entities for connections with state-owned companies and foreign public officials
– Individuals’ date of birth and passport numbers
– Photographs of individuals
– Country risk indicators
– Unlimited number of searches
– Ability to search anonymously
– Ability to set up email alerts by user-selected criteria
– Graphic display/visualization tool mapping potential risk
– Fuzzy search or intelligent name matching
– Ability to search by categories (e.g., “financial crime” or “terrorism”)
– Ability to perform keyword searching

NOTE: The SEC is only seeking responses from companies that have a COTS web-based system that currently meets all requirements listed above. The SEC is not seeking information for development of a customized or new solution.