We provide unique and customised data extracts of PEP and sanctions lists which are run against the financial institution’s client screening and payment filtering systems for analysis.
Control – Client Screening
Manipulated – Client Screening
Control (Risk Adjusted) – Client Screening
Manipulated (Risk Adjusted) – Client Screening
Control – Payment Screening
Manipulated – Payment Screening
Control (Risk Adjusted) – Payment Screening
Manipulated (Risk Adjusted) – Payment Screening
AML Analyser provides unique and customised data extracts of PEP and sanctions lists which are run against the financial institution’s client screening and payment screening systems for analysis.
AML Analytics then provide a clear and concise report incorporating a percentage score on depicting matches, non-matches and false positive results.
Utilising differing algorithms and fuzzy logic, the original data sets are also amended to customise the level at which financial institutions want to stress test their systems.
The unaltered names in a Control test represents the purest of benchmarks.
The Manipulated test most accurately reflects ‘business as usual’ filter settings and Regulators expectations of real life performance.
These tests are undertaken in a completely consistent manner facilitating safe comparison and hence benchmarking.
We have reflected the industry criteria in the scope of our benchmark results. We offer Pure Benchmark results measured utilizing our Control across both client screening and transaction filtering
Whilst the risk adjusted scores for control are much closer to 100%, it means that there are still exact names on the UN, OFAC, EU and HMT lists that are not being captured by screening systems.
To put this into context, the OFAC Specially Designated Nationals ('SDNs') list contains almost 13,000 names, even at a score of 98 at control, this would mean that potentially 260 SDNs in their original form may not be identified and captured by financial institutions systems to address appropriately.
In addition to the standard Global Benchmark test, AML Analytics offer a ‘twice yearly’ test (Jan & July), specifically designed for small US based financial institutions and credit unions (less than $5b by asset). Using the same methodology as that of the Global Benchmark we offer both Benchmark results measured utilizing Control and Manipulated across both client screening and transaction filtering systems.
Institutions participating in regular US Benchmark testing have the opportunity to not only measure their own sanctions screening performance, but also compare it to that of their peers via the Analyser Online portal.
The data used for the test is specifically only taken from two ‘key’ sanctions sources; the OFAC Specially Designated Nationals ('SDNs') list and the United Nations Consolidated List. Targeting only these sources of data reflects the general risk appetite of a small US based institution compared to larger institutions that may carry out cross border transactions or have a non-US presence.
'Sandbox' is an online, web based solution which allows you to create your own bespoke sanctions testing programmes, configurable to suit your individual risk appetite.
We offer a range of services to suit your specific requirements, including ‘risk adjusted’ scoring, custom test data, multiple threshold and periodic sample testing.