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Themis Supply Chain Risk Assessment Tool Helps Companies Combat Financial Crime

Themis, a provider of anti-money laundering (AML) software, has launched a new supply chain risk assessment tool. Companies can use the platform to map out high-risk areas and sectors, and combat financial crimes such as bribery and corruption, fraud, money laundering, human trafficking, arms trafficking and wildlife crimes.

Numerous advisory bodies, including the United Nations, the Organisation for Economic Co-operation and Development, and the International Labour Organisation, recommend supply chain due diligence as the first step.

Themis’ risk assessment helps businesses to understand their high-risk areas, including those related to environmental, social and governance (ESG) issues.

Businesses can use the tool to stay compliant with new regulations and legislation. These include the EU Corporate Sustainability Due Diligence Directive, the EU import ban on goods produced with forced labor, as well as the UK Modern Slavery Act’s Transparency in Supply Chains Provision.

The tool also helps businesses comply with the US Uyghur Forced Labor Prevention Act and the Financial Conduct Authority (FCA) SYSC-8 Rules for general outsourcing requirements.

Dickon Johnstone, CEO of Themis, said: “In a globalised society, where the majority of companies and consumers are connected to an international supply chain, organisations run a far greater risk of exposure to financial crime.

“With each new layer of sub-contraction, profit margins tighten and the incentive and scope for fraud, corruption and corner-cutting increases. Our supply chain risk assessment is a great tool for companies trying to understand the breadth and depth of their supply chains – and the risks they pose – in a coherent way.”

Using the tool, companies can also monitor changes or set a benchmark for continuous improvement; generate reports to enable management to make informed decisions and work with their suppliers to improve their compliance and reduce their risk exposure.


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