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Southeast Bank and Uttara Bank Adopts SWIFT’s Sanctions Screening Service

Southeast Bank and Uttara Bank Adopts SWIFT’s Sanctions Screening Service

1 December 2015

SWIFT's Sanctions Screening Service continues to gain momentum in Bangladesh.

Dhaka, 1 December 2015 - SWIFT announces today that Southeast Bank and Uttara Bank have joined the SWIFT Sanctions Screening Service.

Sanctions Screening provides cost-effective, real-time message screening against international sanctions lists without the need for institutions to manage their own screening infrastructure or perform sanctions lists updates. Sanctions Screening screens transactions in any structured format, including messages not sent over SWIFT. Transactions can be screened against more than 30 of the most important sanctions lists, including lists from the U.S. Office of Foreign Assets Control, (OFAC), the UK's HM Treasury, the European Union, and the Hong Kong Monetary Authority. SWIFT performs sanctions list updates at no additional charge, eliminating a major source of cost and risk for customers.

Shahid Hossain, Managing Director at Southeast Bank, says, "Regulators are putting more pressure on financial institutions to ensure strict compliance with global sanctions requirements. It is important that we are meeting full sanctions obligations efficiently and effectively. We chose SWIFT's Sanctions Screening because it is cost-effective, east to use and reliable, which will help us address the increasing operational challenges relating to sanctions compliance."

Khandaker Ali Samnoon, General Manager, International Division at Uttara Bank, says, "As the regulatory landscape continues to evolve, we are happy to use SWIFT's Sanctions Screening service in helping us to comply with global and local regulatory requirements in AML. With this hosted service, we are able to mitigate potential risks in our daily operations."

Andrew Burlison, Head of Compliance Services in Asia Pacific at SWIFT, adds:  "Sanctions Screening is ideal for financial institutions that prefer a simple to implement, user-friendly and standardised screening solution, without the overhead cost of building and maintaining an onsite screening infrastructure. Ten banks in Bangladesh have already selected this service as their system of choice. SWIFT is committed to continue working with the financial community to further develop and enhance our compliance solutions."

Launched in 2012, Sanctions Screening is a ready-to-use solution that is simple to install and easy to use. With no impact on your infrastructure and no software to maintain, the service is faster to implement and less expensive to operate than an in-house system. Nearly 400 customers in more than 120 countries, including 16 central banks have subscribed to the service.

In 2016, SWIFT will introduce Sanctions list management as part of its growing financial crime compliance services portfolio. This service will enable financial institutions to access, manage and customise multiple sanctions list feeds on a secure, SWIFT-hosted platform.

For more information about Sanctions Screening, visit Sanctions Screening on

About SWIFT's financial crime compliance services portfolio
SWIFT's Compliance Services unit manages a growing portfolio of financial crime compliance services in the areas of sanctions, Know Your Customer (KYC) and Anti-Money Laundering (AML).  The portfolio includes Sanctions Screening and Sanctions Testing services, Compliance Analytics and The KYC Registry. For more information, visit the Compliance Services on

SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,800 banking organisations, securities institutions and corporate customers in over 200 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.

For more information, visit or follow us on Twitter: @swiftcommunity and LinkedIn: SWIFT

Brian Mui
Communications Specialist, Asia Pacific
+852 2107 8748