New screening process helps TrustLaw evaluate organizations
Our Governance, Risk and Compliance (GRC) business is contributing to TrustLaw – our Foundation’s hub for free legal assistance, news and information on pro bono, anti-corruption and women’s rights – with member screening. GRC’s approach to screening is unique and trusted across the industry. Check out why it was a natural fit with the TrustLaw service.
Thomson Reuters Foundation’s TrustLaw service attracts organizations with limited means that need free legal assistance. This includes NGOs and social entrepreneurs. It helps to bring them together with law firms who can provide pro bono services. Thirteen years ago, the Foundation established very strict criteria to accept members to AlertNet, the first humanitarian news network, in order to protect itself from risk and ensure that we only deal with reputable organizations. It applies the same principles to TrustLaw through a rigorous evaluation of members against our company’s Trust Principles and Code of Conduct.
Now the Foundation also benefits from a new tool to complement this evaluation: the Global Screening online service provided by GRC.
The online service is used by law firms, financial institutions and corporations to screen prospective clients. It’s used to check if they are:
- Sanctioned by the UN, EU and other bodies for money laundering, terrorist activities, or other criminal activity
- Politically exposed persons (PEPs) that may pose a risk
One thing that makes this service unique is it offers ongoing screening. Every night records are checked and alerts are sent to users of the service.
Monique Villa, CEO of the Thomson Reuters Foundation, said: “Thanks to GRC’s excellent screening tool, we are now much more confident that we properly evaluate every member, and are able to monitor organizations on an ongoing basis. This is extremely useful and the tool is so fast that it is just a pleasure to use for our due diligence process.”
Patrick Hinchin, director of global screening in GRC said: “With new regulations coming in the near future, such as the Anti-bribery Act in the UK, we can see an immense opportunity for more businesses around the globe to use this service.”