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Sanctions List and PEP Compliance

Under a variety of mandates — including the USA Patriot Act, Bank Secrecy Act and Executive Order 13224 of the U.S. Department of Commerce's Office of Foreign Assets Control (OFAC) — U.S. public, private and non-profit organizations are prohibited from entering into transactions with terrorists, terrorist supporters, drug traffickers, money launderers and other criminals. What this effectively means is that organizations must screen their customers against government provided lists of sanctioned entities.

The U.S. is also a member of the international Financial Action Task Force (FATF), whose Forty Recommendations include, “Financial institutions should, in relation to politically exposed persons, in addition to performing normal due diligence measures … have appropriate risk management systems to determine whether the customer is a politically exposed person.”

FinScan's sanctions list and PEP compliance solutions can help organizations of all sizes meet the requirements of the above mandates with cost-effective implementations tailored to your business and customer screening needs — and help protect you from the penalties and negative publicity that can result from non-compliance.

Accurate, Easy-to-Use List Screening and PEP Compliance

FinScan delivers proven, end-to-end sanctions list and PEP compliance that is easy to implement, easy to use and offers:

  • Fastest deployment in the industry
  • Scalability — from online, real-time look-ups to high-volume batch processing
  • Compatibility with virtually all sanctions and PEP lists
  • Extensive data quality management of lists prior to processing to maximize matching accuracy, while minimizing false positives
  • Continual monitoring of key sanctions list sources for adds and changes to ensure that match lists are always up to date
  • Automated, detailed due diligence and audit reports
  • Streamlined review of “suspect” hits
  • Proven precision and performance in thousands of applications worldwide

 

 



Choose the solution that best suits your business need:
FinScan Licensed
A licensed solution for organizations preferring an in-house software solution that allows full control over matching rules and parameters and can be integrated enterprise-wide

FinScan Hosted
For organizations wanting to avoid the added overhead, staff and IT infrastructure that come with licensing software, but who still require the ability to fully customize their matching rules and parameters

FinScan SME
(Small-Medium Enterprise)
World-class screening performance at a value-focused price for those organizations requiring some control over their matching rules – with virtually no internal IT resources or overhead required

FinScan List Management
The most accurate and effective list management available, offering continual monitoring of list sources for adds and changes, and extensive data quality management of more than 30 key watch lists