Maecenas partners with Thomson Reuters to Mitigate Financial Crime Risk
3 May 2018, SINGAPORE — Maecenas Fine Art, the world’s first blockchain-based art marketplace, will work in collaboration with Thomson Reuters World-Check to mitigate financial crime risk and meet due diligence obligations.
Thomson Reuters World-Check is a globally trusted and accurate source of risk intelligence which helps prevent businesses from inadvertently being used to launder the proceeds of crime or association with corrupt business practices. World-Check will be integrated into the Maecenas blockchain art investment onboarding process.
Adopted by financial institutions and corporates worldwide, World-Check intelligence supports the Know Your Customer (KYC) 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 and Thomson Reuters share the same objective of fighting financial crime, with a commitment to data privacy and ensuring that the world becomes a safer place in which to do business.
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.”
About Maecenas Fine Art
Maecenas Fine Art (www.maecenas.co) 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.
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About Thomson Reuters
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 www.thomsonreuters.com.
