Moody’s Corp, the US listed data business, has announced its acquisition of Bogard AB which provides a database of “politically exposed persons” (PEPs) across Scandinavia. The company has records on 17,000 individuals and assists Moody’s in expanding its Know Your Customer tools which are required for investor onboarding by financial companies as a means of preventing money laundering and other financial crime. The database integrates tax, business and property data across the Nordic area and will complement Moody’s existing Orbis and Grid database products. The deal was financed in cash and will not have a significant impact on Moody’s financials but terms were not disclosed.
Moody’s buys Bogard data
