Identifying Risk Persons

Security, flexible algorithms and complete transparency are essential for the checking of customers and transactions against the embargo lists. Our Name Matching Customer software solution contains the following features for minimizing risk in an efficient manner:

Name comparison

The application compares, on a regular basis, customer data with databases containing persons, companies and PEPS (politically exposed persons) representing a risk. All existing customers, as well as new customers, are continuously monitored.

Embargo lists     

Data is updated on a timely basis through sanction lists such as the EU or OFAC list. An internal "blacklist" can also be maintained in addition to these lists.

Quality of hits    

The quality of the agreement between the customer/transaction data and the embargo list is the criteria applied by the ruled-based matching. The quality of the hit is used as the basis for setting the priority in which the hit is to be clarified.

Clarification     

The hits can be clarified directly in the Name Matching Customer application or through linking with an external application such as the MLDS AML system. An integrated electronic process ensures that audit requirements are met.

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