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Brandon Daniels was interviewed by Legal Tech News on how Exiger has been using AI for Good to help clients detect hidden connections to sanctioned entities and persons –– while also applying its own #sanctions against Russia.
Some Excerpts from the Interview:
Exiger, for example, in December 2021 began offering its clients the option to review their vendor and supply chains for potential connections to Russia as a Russia-Ukraine war became increasingly likely, Daniels said. To spot regulatory or business risk, Exiger first conducts an #AI-powered review of their client’s #supplychain and business relationships to see connections to any sanctioned entities and persons.
Exiger leverages global regulators’ sanctions lists, corporate registers, and other corporate data to look for overlap and potential risk, he added. Daniels noted Russia-specific supply chain analysis was between 40% to 50% of the work Exiger conducted in late February.
“Russia is a major source of enhanced due diligence on the investigation side. A lot of Russian citizens move assets and investments into other countries, and by proactively saying we won’t do work with Russian banks, we will not work with named Russian oligarchs that were subject to sanctions [and we won’t] work with Russian-owned entities, there’s potentially millions of dollars of work [at stake]. There are consultancies and law firms still doing that work … [but] it’s more important to choose freedom on this one,”
Brandon Daniels
