SDNCHECK

Advantages of SDN Check

 

  1. Solution for regulatory compliance in the Prevention of Money Laundering, and against the Financing of Terrorism and Drug Trafficking.
  2. It incorporates a robust analysis engine that systematically checks the existence of names of customers or participants in financial transactions in SDN, PRP and private lists.
  3. Automatically manages SDN load lists (EU and OFAC) and the principal lists of Persons with Public Liability available in the market.
  4. Thanks to its technology, minimizes the number of false positives.
  5. WEB Application for easy integration with information systems.
  6. Capacity of analysis of names in on-line transactions.

The challenges in the task of identifying people

 

Any financial institution that transacts with an EU or USA financial institution, or commercial office (branch network) located in the EU or U.S.A. must block transactions to or from any of the inputs that are available in the U.S. or EU Office of Foreign Assets Control (OFAC) “blacklist”.

Thus the main objective of “OFAC Compliance” or “EU Compliance” should be to eliminate the risk of unwanted transaction processing and protect financial institutions from government sanctions and / or undesirable advertising.

In order to perform these tasks it is necessary to have a tool that facilitates the work of experts. Any tool must meet the following requirements:

  • Detection of prohibitions.
  • Consistency. Filtering application to all operations of the organisation.
  • Minimize the impact of technology on current operations.
  • Generate a detailed and auditable report.

 


Highlights of SDNCHECK

 

People search SDN lists

  • Both individuals and corporations.
  • Automatic load management of main SDN (Specially Designated Nationals) lists, which includes lists provided by the EU and OFAC.
  • Advanced technology for effective name searching.
  • Ability to integrate new external lists required by awarding and regulatory bodies.

 

Analysis of People with Public Liability  (PRP)

  • Allows compliance with the Third Directive on the need to detect PRP people and apply the level of due diligence required.
  • Integrates with leading providers of PRP lists currently available.
  • Could work within the AML platform operations tracker.

Management and Analysis environment

  • Provides information on detections and focuses  of assessment of the membership of the name in the list.
  • Displays detail of the information in the lists.
  • Ability to create temporary exceptions.
  • Evaluation of work done by analysts.

On-line Analysis

  • Allows on-line analysis of transactions that include customers named or involved in operations.
  • Is prepared for direct and simple integration with the host financial institution.
  • Optimised not to affect transaction-processing time.

Intellectual Property

 

SDNCheck  is a registered product. Copyright © 2013 Grupo AIA