As part of the CGDS service, organizations go through watchlist screening to ensure proper due diligence is completed by leveraging advanced technology and rigorous screening processes to mitigate risks associated with financial crime and regulatory non-compliance.
The entity making the payment.
*At the time of this article's publication, March 2024
- AUSTRALIA DEPT OF FOREIGN AFFAIRS AND TRADE
- EU CONSOLIDATED LIST
- UK Financial Conduct Authority
- UN CONSOLIDATED LIST
- JAPAN MOF SANCTIONS
- MONETARY AUTHORITY OF SINGAPORE
- HONG KONG MONETARY AUTHORITY
- OSFI CONSOLIDATED LIST
- BUREAU OF INDUSTRY AND SECURITY
- WORLD BANK INELIGIBLE FIRMS
- EXCLUDED PARTIES LIST SYSTEM (EPLS)
- OFFICE OF INSPECTOR GENERAL EXCLUSIONS
- OFAC SPECIALLY DESIGNATED NATIONALS
- UK HM TREASURY LIST
- DEFENSE TRADE CONTROLS (DTC) DEBARRED PARTIES
- IRELAND FINANCIAL REGULATOR UNAUTHORIZED FIRMS
- HOUSING AND URBAN DEVELOPMENT – LIMITED DENIAL OF PARTICIPATION
- FOREIGN AGENTS REGISTRATIONS
- FBI MOST WANTED
- OFAC NON-SDN ENTITIES
- FBI TOP TEN MOST WANTED
- UNAUTHORIZED BANKS
- FATF Financial Action Task Force
- TERRORIST EXCLUSION LIST
- PRIMARY MONEY LAUNDERING CONCERN – JURISDICTIONS
- PRIMARY MONEY LAUNDERING CONCERN
- PEOPLES BANK OF CHINA (PBC)
- OSFI COUNTRY
- SOUTHERN POVERTY LAW CENTER (SPLC)
Before the scheduled invoices are released to clients to fund, watchlist scanning is performed.
The services in use are WorldCompliance™ and Bridger Insight® XG which are part of LexisNexis® Risk Solutions. Additional lists may be available from time to time using commercially available products in the category of or better than standard. A real time API call is used to see if an organization is on a watchlist allowing for seamless integration of compliance checks.
Lists are updated between 3-5 business days, ensuring that you have access to the most current information for screening purposes. This regular updating helps maintain the effectiveness of the services' compliance efforts.
In addition, all organizations paid through these services undergo due diligence, including screening against governmental entity lists. This process helps ensure that non-profit entities are compliant and do not pose any regulatory or reputational risks.
- The entity making the payment will advise Bonterra of the specific organization during their review
- Bonterra will remove the gifts/grants tied to the organization from the CGDS invoice and reject the organization
- Employee giving transactions will be redirected
- Bonterra will advise the client
- Grants will be rejected by the client
- Bonterra will then release that cycle's CGDS invoices for the client to fund
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