Watchlist screenings are databases including checks against suspected terrorists, money launderers, fraudsters or PEPs. They are being stored in both international at governmental levels relating to the information collected in governmental level, law enforcement, internationally and regulatory databases about prohibited individuals or corporations in certain industries like finance, healthcare and agriculture.
People who are on the watchlist are generally money launderers, specifically designated nationals, money launderers, parties subject varying from sanctions programs, human traffickers, drug traffickers, arms traffickers to the proliferation of weapons of mass destruction.
Before giving your institution a notification; it makes identity verification from multiple independent sources by using the data that is reliable. Then, it scans individuals from different watchlists including global and governmental ones.
Your institution will be notified when they are at least one of those watchlists including Department of Foreign Affairs and Trade, Consolidated List of European Union, OFAC’s Specifically Designated Nationals and Blocked Persons, HM Treasury, Bank of England Sanctions List, European Union Terrorism List, Work Bank Ineligible Firms List, FBI Most Wanted Terrorists and Seeking Information List, Non-Cooperative Countries and Terrorists, Denied Individuals List and PEP Lists, etc.
-Customer onboarding becomes fast and efficient as the manual work gets a huge reduction resulting in a reduction the workload of compliance departments.
-When changes are made on watchlists, your institution gets notified to keep up to recent changes in compliance standards and watchlists.
-Optimization on watchlist screening resulting in compliance to all official regulations and watchlists.
-Protection against real frauds, criminals, terrorists and specifically designated nationals minimization of false positives against your institution’s financial and reputational damage.
Sanction Scanner protects your business with watchlist screening. Our database consists of variable sanction, PEP and wanted lists. With Sanction Scanner you can query fastly. You can contact us for a demo.