Why should you test a sanction screening system? 

Why test a sanction screening system?

          1. Financial institutions had poor ability to identify manipulated names during system screening processes. 
          2. We found heavy reliance on manual processes with limited automation across the sanction screening process. 
          3. A number of financial institutions do not have testing and auditing programs in place. 
          4. There is sometimes a misunderstanding between transaction screening and transaction monitoring by financial institutions.