Sigma Expands Address Risk Coverage with Top 1,000 Shared Addresses

Hello Sigma network! We continue to roll out new product enhancements across our product offerings to support our clients in their financial crime risk management. Today, Sigma is announcing an expansion of its address risk coverage.

Building on Sigma's proprietary shell address, sanctions-related, corporate services provider, and virtual office address data, Sigma has added over 1,000 of the top higher-risk addresses, which brings total coverage to approximately 10,000 addresses worldwide.  These newly added addresses represent the addresses with the highest number of legal entities registered globally.

Address risk detection enables a more holistic view of risk and improves AML typology detection rates. Specifically, identification of customers and non-customer counterparties located at suspicious addresses is one of the many ways financial institutions and fintechs can mitigate their financial crime risk both at the time of onboarding and transaction processing.

Now, in a single search, a Sigma user can detect if an entity is located at an address that is connected to:

• • Alleged Shell Companies - addresses are verified by Sigma analysts as having been utilized by alleged shell companies
  • Corporate Service Providers - addresses are verified by Sigma analysts as matching corporate service providers
  • Virtual Office - addresses match virtual office address
  • Sanctioned Entity -  addresses match address used by sanctioned entity 
  • Bearer Shares - addresses match address used by sanctioned entity 
  • Multiple Legal Entities - addresses match address found to be used by multiple legal entities in corporate registry