Eunomart offers an automated vigilance procedure tool that enables art professionals to conduct real-time risk assessments and ensure compliance with anti-money laundering and counter-terrorism financing regulations. The software centralizes data collection and analysis, streamlining the compliance process and facilitating quick access to necessary documentation during regulatory audits.
Funding
Funding not disclosed
Founders
Product
Problem
Art market professionals face increasing regulatory pressure to comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations, requiring them to conduct thorough risk assessments of clients and transactions. This process is often manual, time-consuming, and prone to errors, making it difficult to ensure full compliance and prepare for regulatory audits.
Solution
Eunomart provides an automated vigilance tool designed to streamline AML/CTF compliance for art market participants. The software centralizes data collection from various sources, including client information, external databases, and open internet sources, to provide a comprehensive risk assessment. By automating the analysis of potential risks based on regulatory updates, Eunomart enables art professionals to quickly identify and address compliance issues. The platform also facilitates the creation of detailed risk mappings and internal protocols, ensuring that users are well-prepared for regulatory controls.
Target Audience
Eunomart primarily targets art dealers, galleries, auction houses, and other art market professionals who are required to comply with AML/CTF regulations.
Features
- Automated data collection from client contacts, external databases, and open internet sources
- Instant risk analysis based on up-to-date regulatory guidelines
- Centralized data storage for year-over-year compliance tracking
- One-click report generation for compliance audits
- Customizable risk assessment workflows tailored to specific client scenarios
- Integration of sanctions lists (e.g., high-risk countries, politically exposed persons) for enhanced due diligence
- Role-based access control and data encryption to ensure confidentiality and security