Sanctions Testing

With Sanctions Testing, you can test your payments, customer and PEP filters automatically at scheduled intervals, or on demand without disrupting live operations. Test multiple systems or configurations, or repeatedly test the same system to monitor changes over time. Test results can be tracked, compared, visualised in graphs and charts and exported for audit and other reports.

Sanctions Testing gives you a wide range of testing options. You can generate test objectives closely aligned to your institution’s compliance policy and risk criteria. You can also customise tests with your choice of sanctions list data and produce them for multiple message formats, including Swift MT, ISO 20022, Fedwire, CHIPS and customer record formats.

Sanctions Testing provides thorough testing for exact or “fuzzy” matches, such as misspellings and acronyms, based on a comprehensive library of derivations. You can also include relevant risk information, such as BICs, country, city or other keywords.

Sanctions lists are subject to constant change and amendments, making list management a challenge. To ensure your lists are correct and up to date, use the Sanctions Testing user interface to navigate, search and review key regulatory sanctions lists and your own internal lists. List alerts provide early notification, and change reports are standardised to help you manage and prioritise change processes and updates.

We’ve worked closely with our customers to define Sanctions Testing features and functionality to meet the dynamic challenges of sanctions compliance.

For example, Peer Assessment is an optional add-on for Sanctions Testing users, developed in close collaboration with the Swift community. It provides baseline aggregated data from peer institutions, enabling banks to evaluate the performance of their filters against key data from other participating users.

We also offer packaged and bespoke services, including advice on design and implementation of your testing framework, maximising the effectiveness and efficiency of your sanctions compliance programme.

Sanctions Testing checks that your screening models and filter settings are correctly aligned with your organisation’s compliance policies and risk appetite. You can define tests in line with your compliance and risk policy, test and understand your screening models and verify consistent implementation across your organisation. Our optional Peer Assessment service provides more information on how your filter models operate and compare to your peers, helping you make the best compliance decisions.