Challenges and Best Practices of AML Sanctions Screening, Part 1:
The Importance of Data

Know Your Data (KYD) is the new KYC

You are only as strong as your weakest link. This very much also applies to your PEP and sanctions screening program as it will be only as strong as the data that is used.

We’ve seen many organizations inadvertently expose themselves to unnecessary risk due to quality issues in their data. As we helped them address these issues, their risk and compliance initiatives became stronger and more effective.

Identifying hidden risk in your data reduces overall risk and enhances productivity. Further, with increasing regulatory focus on managing your data, incorporating a better data quality process enables you to harness the power of your data instead of having it work against you.  

Watch the first in this series of lively and informative discussions regarding the challenges and best practices associated with PEP and sanctions screening. In just one hour, we will provide practical tips that you can adopt to enhance your AML and screening programs. 

This webinar will cover:

  • Common examples of data issues – such as duplicate records, multiple source systems, misplaced customer names, inconsistent formats – that can impact your AML screening program
  • How you can address these issues through a compliance-specific data prep process
  • Case studies of organizations that reduced false positives and identified true matches by optimizing their data for compliance
  • How a Data Quality Assessment can help you understand your current data conditions and identify targeted areas to improve

Presented by:

Kieran Holland
Kieran Holland
Head of Technical Solutions FinScan