Data-driven Due Diligence
MCaaS conducts data-driven due diligence to thoroughly identify entities, generate their KYC reports, and deliver screening results. Accurate entity identification and validation through access to up-to-date data are critical for risk assessment, mitigation, and regulatory compliance.
Despite leveraging multiple data sources, including Marcura transactional data, registry portals, direct outreach, and third-party providers, complete identification and KYC/KYCC processing can be challenging due to insufficient data received from the requestor.
All MCaaS customers are obligated to accurately identify third parties, vessels, and corporate officers subject to due diligence. When submitting a request, MCaaS requires basic mandatory information:
Entity type (organization, vessel, or corporate officer)
Screening type (continuous monitoring or one-off screening)
Due diligence level (SDD/BDD, EDD, or EDD+)
Basic entity details: country of incorporation, organization name, contact details, and any additional information.
The above details enable requests to flow seamlessly through the Request Statuses until completion. However, there may be instances where further progression becomes impossible.
Inconclusive Request Status
We recognize the maritime industry's struggle with poor data quality and information spread on legacy systems, where correct identification details are scattered and hard to access. Despite these challenges, we strive to assist our customers in overcoming these data hurdles. The quality of screening reports depends on the accuracy of initial data capture. Effective risk mitigation and identification of true matches require a systematic approach to due diligence based on verifiable data, not speculation. It is for this reason that incomplete or improper identification of entities may necessitate reaching out to you as the requestor for additional details.
Hence, to promote data accuracy in the maritime industry, we've introduced the Inconclusive status in MCaaS CORE. Easily identifiable within the Requests manager of MCaaS CORE, Inconclusive requests will appear as described below:
This status, resulting from meticulous due diligence review, is assigned to entities with identified discrepancies, and can tackle:
entity not found on any source;
incorrect entity identification (e.g., submitting an organization request for a vessel);
incorrectly identified location;
incomplete entity details requiring additional information for correct identification;
missing Point of Contact details for EDD+ requests;
incomplete details due to pending counterparty response for EDD+ requests.
Remarks
All Inconclusive requests include a Remarks section (2) accessible via the ellipsis (1) on the right side of each request.
The Remarks provide further explanation for the inconclusive status and prompt action from the customer. In turn, the Remarks section also enables customers to communicate with MCaaS or internally with other users within the same Workspace. Click here to learn more about Remarks.
We are actively working on automating notifications for Inconclusive requests to streamline the resolution process.
Upload supporting documentation
We encourage our customers to submit all supporting documentation via MCaaS CORE’s document upload functionality, which can be found on each request and subsequently viewed. To learn more about proactive document upload, please click here.
Once the supporting documentation is received by MCaaS, we will validate the provided information and proceed with completing the due diligence request. If any further details are required, the requestor will be promptly notified.
For further support with your Inconclusive requests, Remarks, or Document Upload functionality, please feel free to reach out to us via the embedded Messenger.