Sanctions screening
A year from now, someone will ask why you cleared that match. Have the answer.
Sanctions lists taken directly from the authorities that issue them, refreshed every six hours, with the list entry and the evidence behind each match decision kept alongside it.
Your problem
Every examiner tests screening, and the decisions are hard to reconstruct
- Screening is a control every program runs and every examiner tests.
- The data usually comes from a reseller's compiled list, so you can't say which version of which authority's list a customer was checked against.
- Decisions to clear a potential match live in a queue or a spreadsheet, and the reasoning is gone by the time anyone asks.
What you get
Every decision, with its evidence, ready to show
- Screening results for each customer and counterparty, with the list version each result was checked against.
- A record of every match decision and the evidence behind it, ready for your independent tester and your examiner.
How we do it
From the source, every six hours
- We collect the sanctions lists from the issuing authorities in the United States, the European Union, the United Nations, the United Kingdom, Canada and Australia, every six hours.
- Your customers and counterparties are screened against them.
- Each potential match is resolved against a written evidence rule, and the list entry and the evidence stay with the decision.
Politically exposed person screening and business verification run on the same record.
How the work is done
The audit you already buy, performed by an engine.
- Every record testedControls are tested against the full population of accounts and transactions, not a sample of twenty-five.
- Every requirement citedEach requirement the work runs against is cited to the rule it comes from, with the facts behind it labelled.
- Findings pricedFindings arrive priced in dollars, so remediation is ordered by what each gap is worth.
- A signed reportThe report is signed, and any reader can check that nothing in it changed after signing.
Pricing
A monthly fee, by band
This replaces a screening data subscription, and the spreadsheet or queue where match decisions are recorded today.
Price: Priced at scoping, by band. How pricing works
The published method
How this is normally done
The regulator's and the standard-setter's own method for this work, explained in plain English and cited to the source. We have nothing to hide about how we do it: check our process against it.
- ReferenceSanctions Screening Program: Definition, Components and ProcessWhat sanctions screening is, OFAC's five compliance commitments, the official lists, fuzzy matching and alert disposition, the 50 percent rule, reporting and ten-year record retention.
- ReferenceKYC and KYB: Customer and Business Due Diligence ExplainedWhat KYC and KYB mean under US AML rules: the customer identification program, the CDD rule and beneficial ownership, verification methods, EDD, PEPs, and the status of CTA reporting.
- Field GuideCustomer Risk Rating: How to Score Customer RiskHow to score each customer's money-laundering risk: the inputs, the low, moderate, and high tiers and what they trigger, dynamic re-rating, and where ratings fail an exam.
What happens next
Three steps from here.
- 01
A short call
How many customers and counterparties you screen, and where the records live today.
- 02
A first screen
Your current population screened against the source lists, with every potential match and its evidence.
- 03
Every six hours after
New list entries screened as they are published, with each decision on the record.