Miyagi Daiichi Shinkin Bank Adopts 'Compliance Station® UBO Series' to Strengthen Anti-Money Laundering / Countering the Financing of Terrorism (AML/CFT) Measures

Compliance Data Lab, Inc. (hereinafter "CDL") announces that Miyagi Daiichi Shinkin Bank has implemented the "Compliance Station® UBO Series," which instantly provides Ultimate Beneficial Owner (hereinafter "UBO") information online using the high-quality corporate database held by Tokyo Shoko Research, Ltd. (hereinafter "TSR"). Background of Implementation: In recent years, cases of money laundering abusing corporate accounts have increased, and the importance of ongoing customer due diligence in financial institutions is growing further. As cases that are difficult to handle with conventional operational methods increase, how to balance the reduction of practical workload with the effectiveness of management has become a major challenge. To address this issue, Miyagi Daiichi Shinkin Bank has been considering new solutions that can simultaneously achieve the sophistication and efficiency of ongoing customer due diligence. As a result, Miyagi Daiichi Shinkin Bank highly evaluated the ability to comprehensively acquire information necessary for customer risk assessment, including corporate Ultimate Beneficial Owners (UBO), as well as the ability to timely grasp changes in this information, leading to the implementation of the "Compliance Station® UBO Series." What can be achieved by the implementation and future prospects: Miyagi Daiichi Shinkin Bank will utilize the "Compliance Station® UBO Series" in its ongoing customer due diligence operations for corporations. Conventionally, it took a lot of time and cost to verify the actual status of a corporation and collect the latest company name, address, representative information, and UBO. The introduction of this service enables efficient and comprehensive information gathering. This is expected to realize more sophisticated compliance management. In anticipation of the 5th FATF Mutual Evaluation of Japan in 2028, as the construction of a more effective AML/CFT (Anti-Money Laundering and Countering the Financing of Terrorism) operational framework is required, CDL will continue to work on product development and strengthening its support system to contribute to the further sophistication of Miyagi Daiichi Shinkin Bank's ongoing customer due diligence. Overview of "Compliance Station® UBO Series": "Compliance Station® UBO" is a service that utilizes the corporate database boasting one of the largest coverages in Japan held by TSR, and provides various information necessary for risk assessment, including the Ultimate Beneficial Owner (UBO) identified by CDL's proprietary algorithm, simply by searching for a company name on an online screen. It also supports bulk processing of large amounts of data, and if a corporate number is assigned, it can process up to 300,000 corporate records in about 3 minutes. - UBO: Standard plan. Provides basic information on target companies and UBO. - UBO+: In addition to the standard plan, provides intermediate shareholder information and capital lineage charts. - UBO Exec: In addition to the standard plan, provides executive information. - UBO C&S: Standard...