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(An integrated component of all FinScan compliance solutions) |
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| Identifying and mitigating your organization's potential exposure to non-compliance — and the penalties and negative publicity that could result — is your top priority. When screening against watch lists, there are three critical factors that increase your exposure: |
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Difficulty in keeping sanctions list data current due to the varied and ad hoc updating schedules of the many regulatory agencies |
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Poor quality sanctions list data that inhibits matching accuracy |
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Alias, multiple and "hidden" names with in sanctions list records that may slip through the screening process unmatched because they are not identified as a name to check |
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While many watch list screening solutions ignore these risks and focus only on the matching process, FinScan helps minimize your exposure by addressing these risks directly. |
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FinScan List Management is a unique sanctions list cleansing and updating service that is integrated into all FinScan solutions. Powered by our industry-leading customer data management capabilities that have been serving the global financial services industry since 1968, FinScan List Management carefully prepares more than 30 key U.S. and international sanctions lists prior to screening against customer data. This preparation includes: |
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Continually monitoring the list sources and incorporating any adds and updates into the lists used for matching to ensure that your customers are screened against the most recent and accurate sanctions list and PEP data |
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Cleansing, parsing and reformatting government-provided data to enhance matching accuracy and minimize false positives that require costly, time-consuming review and resolution |
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Identifying aliases, nicknames and multiple names hidden within sanctions records and including them in the screening process to minimize the risk of a missed match |
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Click here for a list of compliance lists
currently managed by FinScan. |
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