Arachnys harnesses the world’s information to make the world a safer place. We are passionate about helping financial institutions revolutionize the way bad actors are thwarted -- to secure our collective futures. And everyone who works at Arachnys shares a common destination to deliver on that vision -- we strive to build superior Know Your Customer (KYC), Anti-Money Laundering (AML) and Enhanced Due Diligence (EDD) solutions, and a great company that does good in the world.
Arachnys was mentioned recently in the Joint Committee on Human Rights & Business Inquiry. The Joint Committee included both the Commons and the Lords. Andrew Silvester of the Institute of Directors cited Arachnys as instrumental in curbing slavery in the supply chain:
“If you approach UKTI about doing business in a country that is on its watch list, you should not just get information back that says, “The aerospace sector is thriving”; you should get information about dodgy companies in the aerospace sector.
“We have heard a lot more talk about corporate practice in the City, as you have said. The best companies are taking their responsibility to report, in particular on modern slavery, seriously. I mentioned Marks & Sparks: it is one of the first things you see on its website. It cannot be buried in an annual report right at the back in a pro forma, “We’re doing our best” type thing. Anecdotally, we know of a couple of tech firms based in east London that essentially bring together information that is available right across the web in different languages in places that British companies would never look at in foreign Governments. They then going through the myriad complicated websites that those Governments often have because they do not have the wonders of GOV.UK. This company, Arachnys, is seeing its business go through the roof because it is providing the kind of due diligence that was not possible 10 years ago.”
To read the full transcript, visit the UK parliament website’s written evidence section.
Arachnys takes a strong interest in curbing human trafficking and modern slavery in the supply chain. We work with LibertyAsia to create typologies, risk flags and source collections.
For more information on our work in this area, please contact the editor.
Picture Credit: Diliff
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