Sanctions and PEP Screening for Bahamas Trust Companies and Registered Agents
Watchtower screens every person and entity you act for against the United Nations list, which the Central Bank of The Bahamas calls mandatory, and against the OFAC, European Union and United Kingdom lists. Plans start at $195 a month.
The Lists for The Bahamas
The Central Bank of The Bahamas describes screening against the United Nations list as mandatory for the banks and trust companies it supervises. Its guidance names the OFAC, European Union and United Kingdom lists as best practice.
Watchtower screens against the United Nations list and against the OFAC, European Union and United Kingdom lists. Watchtower downloads each list from the government body that publishes it, and your dashboard shows the date each was last updated.
Politically Exposed Persons
Watchtower screens each person you act for against a roster of over 235,000 current and former holders of public office in 121 countries and territories, The Bahamas among them. The roster also holds the family members of an office holder whom the public record names. PEP screening is included in every plan.
Ongoing Monitoring
Watchtower screens each party on the day you add it and then every day, every week or every month. You receive one report for each run that covers every party screened in it.
Certificates for Your Regulator
You receive a certificate for each screening of each party that states the date and time, the lists and the result. Each certificate is a PDF file that is locked against editing and digitally signed, which allows your regulator or auditor to confirm that it is unchanged since Watchtower issued it.
Pricing
Starter covers up to 500 parties for $195 a month. Firm covers up to 2,000 parties for $395 a month. Institution covers up to 10,000 parties for $795 a month. Every plan includes sanctions screening, PEP screening, certificates and reports.