Read about the critical role of transaction monitoring in fighting financial crime here


Annual Assurance Testing

A versatile sanction screening system testing solution providing flexible long-term assurance that a system is fit for purpose.

The benefits of Annual Assurance Testing

Annual Assurance Testing (AAT) is needed by both traditional and non-traditional financial institutions to:

  • Understand if your sanction screening system is performing with optimum effectiveness and efficiency in line with regulatory expectation
  • Help you respond to increasing scrutiny from regulators as to the integrity of a sanction screening system
  • Minimise an entity’s exposure to AML/CFT risk
  • Provide an evidence-based reporting system that is trusted by multiple regulators around the globe

AAT is in line with minimum regulatory expectations for the testing of a sanction screening system on an annual basis.

Our testing methodology ensures total data security and requires neither the installation of any software nor any IT integration with a customer’s systems so that that there will never be any data protection issues. AML Analytics is an independent provider of sanction screening system testing technologies with no affinity to any supplier of automated systems.

Sandbox Test Builder

A flexible testing solution

AAT is a versatile solution from AML Analytics, providing a flexible approach to testing a sanction screening system, facilitating the creation of a yearly test for independent system verification and validation on a recurring annual basis as part of a minimum three-year subscription.

Customers need AAT to ensure a system is fit for purpose, facilitating frequent reporting to regulatory authorities that is now required.

In line with regulatory expectation

AAT is tailored to each customer’s specific requirements according to their jurisdiction and risk appetite, and in terms of sanction list selection and test record type.

Testing will ensure that the effectiveness and the efficiency of a screening system is understood using a test containing control records and manipulated records.

Manipulated records will have differing algorithms applied in order to rigorously test the fuzzy logic matching capabilities of your sanction screening system.

Frequent testing enables performance improvement and enhancement of a sanction screening system through evidence-based tuning and provides independent system validation for frequent reporting to regulators.

Test results are available to view in Analyser Online where you can carry out detailed analysis of results and False Positive rates by viewing sanction records that have hit and missed in granular level detail, as expected by regulators.

Sandbox Test Breakdown

Our solutions

Cutting-edge RegTech and SupTech testing, validation and risk assessment solutions for financial institutions and regulatory authorities.

Sandbox
Sandbox is a powerful self-assessment tool designed to test the efficiency and effectiveness of your sanction screening system technologies. Sandbox enables firms to create their own sanction screening system tests to suit corporate requirements and risk appetite.
Analyser Online
Analyser Online is our customer communication hub. It provides access to the most advanced hosted testing facility for sanction screening and transaction monitoring system technologies, offering powerful analytics to help our customers understand test results quickly and easily and take remedial action to mitigate financial crime risk.
Global Benchmark
TM
Subscribe to Global Benchmark™ to measure your sanction screening system performance in terms of efficiency and effectiveness and then regularly benchmark your scores to the industry-standard aggregated scores of your peers around the world.
Annual Assurance Testing
Our annual subscription service, Annual Assurance Testing, allows you to tailor tests to suit individual testing requirements and corporate risk appetite.
Red Flag Tests
Red Flag Tests is designed to carry out an on-the-spot transaction monitoring system health check by exercising red flag rules using Smart Scenarios consisting of millions of rows of synthetic transaction data to mimic the exact transactional patterns of defined money laundering typologies.
Sanctions Alert Service
The free Sanctions Alert Service (SAS) from AML Analytics provides details of real time updates to important sanction lists worldwide, allowing financial institutions to monitor sanction list changes as they happen.
Transaction Monitoring Validator
TMV (Transaction Monitoring Validator) is an innovative RegTech solution to enable ongoing, frequent validation and testing of a transaction monitoring system in line with current regulatory requirements.
Sanctions Alert Tests (EU)
Subscribe to SAT (EU) and receive a new sanction screening test every time a change is made to the EU sanctions list.

Ready to talk?

Don’t hesitate to reach out to us.
info@aml-analytics.com
+44 (0) 1264 889 339

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