 |
(An integrated component of all FinScan compliance solutions) |
| |
| Comprehensive Sanctions List Management — to Minimize Overhead and Improve Matching Performance |
|
|
| |
Making sure the sanctions and PEP lists your organization uses for compliance screening are current with the latest adds and changes published by various regulatory agencies can be a costly, time-consuming burden that diverts focus and resources from critical business initiatives. |
|
|
|
FinScan List not only relieves you of the time and overhead required to manage sanctions list updates, but it also significantly enhances the quality of the data in the lists. Using clean, standardized sanctions list data maximizes matching accuracy and minimizes the production of false positives that require costly, time-consuming review and resolution. |
|
|
|
These advanced list management services are an integral part of all of FinScan's end-to-end compliance solutions: FinScan Hosted, FinScan Licensed and FinScan SME. |
|
|
|
30+ Sanctions and PEP Lists
FinScan List monitors, updates and provides data quality cleansing and reformatting for more than 30 widely-used sanctions and PEP lists, and can add other lists as requested. To view our current managed lists, click here. |
|
|
|
3 Ways FinScan List Reduces Costs While Maximizing Accuracy |
|
|
|
FinScan List helps reduce your compliance-related expenses, while improving matching performance by: |
|
|
| |
| 1. |
Monitoring List Sources – to Keep Lists Up to Date
Each national and international sanctions and PEP list provider publishes updates on its own schedule. For most organizations, monitoring the various list sources and ensuring that important updates are immediately incorporated into the lists used for screening steals time and resources needed for other, more productive business functions. |
|
|
|
FinScan's dedicated list management team ensures that the data we use for compliance screening is fully up-to-date by continually monitoring the sources of the lists we manage, and immediately updating our published sanctions lists with any adds or changes. |
|
|
| 2. |
Enhancing Data Quality — to Maximize Matching Accuracy and Minimize Costly False Positives
For screening solutions to deliver a high-level of accuracy, they must compare data elements that are clean and in consistent formats with each other. One of the major challenges to accurately matching against the government-provided sanctions lists and many public PEP lists is that their records are typically of poor quality, containing a variety of anomalies and inconsistent formats. |
|
|
|
To overcome the problems related to screening against sanctions and PEP list data, FinScan rigorously cleanses, parses and re-formats the data in the lists we manage prior to matching. Enhancing the data quality maximizes matching accuracy, while minimizing false positives that require individual investigation and resolution. |
|
|
| 3. |
Alias Propagation to Reduce False Negatives —
those True Matches that Go Undetected
Many sanctions list and PEP records contain multiple names, aliases, and nicknames "hidden" within a variety of data fields. If your screening solution doesn't find these "hidden" names to include in its matching process, your organization is at risk of missing a true match — and permitting a false negative to put you in non-compliance. |
|
|
|
| |
 |
|
 |
| |
Learn more ... |
|
| |
Find out how FinScan List Management can significantly reduce your costs related to suspect review and resolution — and help protect you against non-compliance.
|
|
| |
Call 1-800-622-6390 or download a free data sheet here. |
|
 |
|
 |
|
