News
Print Article

ARE YOU PAYING TOO MUCH FOR YOUR SANCTION, PEP AND ADVERSE MEDIA DATA?

04/03/2022

Now is the time to risk screen your client base regularly [if not daily], but it should not come at a cost that stretches your resources.

The following is a copy of an email I sent today [with certain redactions] that shows SANCTION, PEP AND ADVERSE MEDIA SEARCH data is affordable if you know whom to ask.

If you are paying too much, message me, and I will offer you the same as below. And if you have more significant data needs than 750, you will be pleased to know the cost gets keener with more extensive datasets [volume].

Dear x-x-x-x-x-x

You asked about the COMSURE ITRACK SANCTION, PEP, and ADVERSE MEDIA SEARCH capability and prices.

You have advised that you currently pay XX[REDACTED SEARCH PROVIDER] £1,050.00 for:-

  • 500 standard credits (£2.10 PER CREDIT / NAME SEARCH)[ONE OFF SEARCHES] for SANCTION PEP AND ADVERSE MEDIA DATA

Comsure can offer a similar [albeit better] service that is more cost-effective; I can show this as follows:-

  1. 750 UNIQUE NAME SEARCHES BASIC SANCTION PEP AND ADVERSE MEDIA DATA for
  • £1,500.00 [£1500.00/750= £2.00 = PER CREDIT / NAME SEARCH
  • £1,500.00 + 375 (automatic overnight monitoring) [£1875.00/750= £2.50 PER CREDIT / NAME SEARCH]

PLEASE NOTE the difference between ONE-OFF SEARCHES and UNIQUE NAME SEARCHES – as this is important.

The following will illustrate the cost-saving you will receive for an enhanced 24/7, 365 oversight screening service.

  1. If you were searching for a name, e.g. Mathew Beale
  2. On your XX system, this would cost [x1] credit [£2.10] per search – so if you performed [x3] searches a year would equal =  £2.10 x 3 credits = £6.30
  3. On the Comsure iTrack solution, the cost would be [x1] credit £2.00/£2.50 only – but there is no further recharging when you search again, so [x3] searches remain at [x1] credit of £2.00/£2.50 only. So if you searched for Mathew Beale every night for 365 nights, the cost will be [x1] credit £2.00/£2.50 only [compared to xx who would charge £766.50 (£2.10 x 365)]

Let me know if you want any further information at this time

Mathew Beale - Chartered FCSI

Principal (Director) - Comsure Compliance Limited, Comsure Technology Limited (the "Comsure Group of Companies") - No 1 Bond Street Chambers, St Helier, Jersey, Channel Islands, JE2 3NP - Direct Tel: +44 (0) 1534 626841 - Mobile Tel: +44 (0) 7797 747 490 - Skype: comsurecompliance - mathewbeale@comsuregroup.com - www.comsuregroup.com

JERSEY GUERNSEY MAURITIUS COMSURE SERVICES