#Japan #Compliance Station #Chiyoda, Tokyo #TSR #Miyagi Shinkin Bank

Introduction

Miyagi Daiichi Shinkin Bank has recently implemented the Compliance Station® UBO from Tokyo Shoko Research (TSR) to bolster its compliance measures against money laundering and terrorism financing. This initiative comes in light of increasing incidents where corporate accounts are misused for money laundering, underlining the necessity for prolonged customer management within financial institutions.

Background to Implementation

In recent years, there has been a notable rise in money laundering cases, especially those exploiting corporate accounts. This trend has heightened the importance of continuous customer management in financial institutions. Traditional methods are becoming increasingly inadequate for addressing the complexities associated with such scenarios.

Miyagi Daiichi Shinkin Bank has been actively pursuing solutions to enhance and streamline their customer management processes. They recognized the pressing need to effectively balance operational efficiency and the stringent requirements of compliance. With the introduction of TSR's Compliance Station® UBO, the bank aims to harness corporate information data more effectively, thereby establishing a more sophisticated and efficient customer management system.

TSR is committed to supporting Miyagi Daiichi Shinkin Bank in advancing its continuous customer management strategy, focusing on product development and enhancing support systems.

Overview of the Services

The Compliance Station® UBO is a due diligence tool developed by Compliance Data Lab, a TSR partner. Users can search for a company name online, and the platform utilizes TSR's extensive corporate data to identify beneficial owners of the targeted businesses through a proprietary algorithm. It provides essential information such as company name, address, representatives, industry, and corporate number.

The system can process inquiries one at a time or handle larger volume data in bulk. Notably, if a corporate number is provided, it can process up to 300,000 entities in approximately three minutes.

The Compliance Station is a registered trademark or trademark of Compliance Data Lab.

For more details about the Compliance Station® UBO, visit here.

About Tokyo Shoko Research (TSR)

Headquartered in Chiyoda, Tokyo, TSR has established itself as Japan's oldest credit investigation company, providing extensive credit research services based on a database of over 10.41 million corporate entities. With over 130 years of contribution to Japan's economic activities, TSR has created a vast network across the country.

Furthermore, TSR is the exclusive partner of Dun & Bradstreet (D&B), one of the world's largest business information providers, offering access to enterprise data for more than 638.13 million companies globally.
For more information about TSR, visit here.