Compliance is mandatory. In the fight against money laundering and terrorism financing, legislators require the verification of the compliance status of business partners in a variety of transactions, whether they involve new or existing customers. This requirement entails a significant effort. Due to the multitude of public information sources that need to be checked, continuous manual verification is no longer feasible. Therefore, SCHUFA provides an automated preliminary check of various lists, followed by an individual case examination in specific suspected instances.
In the business with private customers, SCHUFA offers the SCHUFA-ComplianceCheck, an extensive service in the B2C sector. During the credit check, customer data is compared against the list of politically exposed persons and sanction lists. If there are sufficient matches, the contracting party receives corresponding information. In the B2B sector, SCHUFA offers the SCHUFA-ComplianceService with a licensing model, providing a solution that supports meeting regulatory requirements and can be flexibly integrated into the existing systems of business customers. All relevant and public lists are incorporated into the process and are constantly updated.