Maecenas Fine Art Adopts Thomson Reuters World-Check to Mitigate Financial Crime Risk
SINGAPORE, May 16, 2018 /PRNewswire/ --
Maecenas Fine Art, the world's first blockchain-based art marketplace, has adopted Thomson Reuters World-Check to meet due diligence obligations and mitigate financial crime risk. World-Check will be integrated into the Maecenas blockchain art investment platform.
Thomson Reuters World-Check is a highly structured database of intelligence on heightened risk individuals and organisations. Widely adopted by financial institutions and corporates globally, World-Check intelligence supports the Know Your Customer and Third Party Risk due diligence process. World-Check can help uncover risk associated with sanctions, organised crime, fraud, money laundering, bribery and corruption, as well as modern day slavery and country risk.
"We want to position Maecenas as a global leader within the art finance industry, and we believe that the integration of World-Check within our platform is in alignment with this goal," said Marcelo García Casil, CEO of Maecenas.
Maecenas Head of Technology Risk & Compliance, Javier Tamashiro, added, "We are delighted to be working with Thomson Reuters to give our customers further assurance that effective screening controls for sanctions and AML risk have been established in key areas of our business."
Maecenas Fine Art
Maecenas Fine Art is the world's first blockchain platform for investing in fine art. Its online marketplace enables investors to buy shares in multimillion dollar masterpieces for the first time, just like they would a Fortune 500 company. Using blockchain technology, artworks are tokenized, breaking them down into smaller financial units which can then be traded on the online platform. https://www.maecenas.co/
Thomson Reuters is the world's leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, visit http://www.thomsonreuters.com.