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Case Study: Aegis Reins

Namescan has helped Aegis Reins Mauritius office comply with their AML/CTF obligations since 2020.
NameScan Case Study

Industry: Financial Services

Location: Mauritius Mauritius

Number of customers: 500

Partnered with NameScan since 2020

Aegis Reins is an independent reinsurance broker (a financial institution that assists insurance companies), covering Africa, with strategic partners (reinsurers) in Africa, Middle East, Far East and Europe.

Aegis Reins Mauritius office has been using NameScan's PEP, Sanctions and Adverse media screening solutions since 2020. Our solutions allow them to ensure that they know who their customers are and understand the potential money laundering and terrorism financing risk they pose to their business.

The Challenge

Mauritius has strict AML/CTF regulations and financial services are heavily regulated by the Financial Intelligence Unit. The regulatory body audits reporting entities to ensure that they have the correct processes in place to prevent them being used for money laundering and terrorism financing activities.

Reporting Entities need to ensure that they:

Conduct customer due diligence before and during the course of the business relationship or when conducting transactions for occasional customers, which includes: Identifying Beneficial Owners & Identifying Domestic and Foreign Politically Exposed Persons (PEPs)

Keep records of all customer transactions

Identify all money laundering and terrorist financing risks associated with the products and services offered and implement appropriate mitigations for these risks

Submit regulatory reports

Register with the FIU

The Solution

Our frictionless onboarding process has allowed Aegis Reins to be setup with an account almost immediately. Once setup with an account, Aegis Reins was able to use their dashboard to process single and batch scans against global databases of PEP, Sanctions and Adverse Media. When an individual or entity is matched against our databases, Aegis Reins is able to perform due diligence by allocating a decision, risk and a comment to the corresponding profile. The due diligence is recorded as part of the profile and can be kept online for future reference in the scan history section or it can be downloaded as a PDF report.

Solutions we offer Aegis Reins:

Pep Checks
Sanctions Checks
Adverse Media Checks
Know Your Business Checks

Explore Our Free Check Services

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Free AML Risk Assessment Check