Sanctions Testing automates compliance, so your systems identify sanctioned entities and PEPs, but allow legitimate transactions. It offers quality assurance, performance assessment, list accuracy, risk alignment, control automation, and peer comparison - all through secure web-based technology for easy integration.
Benefits
Delivers comprehensive, independent quality assurance of your transaction, customer and PEP filters.
Assesses filter models, fuzzy matching and false positives and iteratively improves performance.
Ensures lists are correct and up to date.
Captures, tracks and aligns your risk appetite.
Maintains control and fully automates your sanctions testing and tuning.
Compare your filter performance with peer institutions.
Learn more about Sanctions Testing
Talk to one of our Account Managers
Frequently Asked Questions
Sanctions Testing is a secure, web-based product. It allows you to test, tune and optimise your transaction, customer and PEP filters, validate the lists you are using are correct, and align your filter configuration to your business needs and risk appetite. We also offer a range of assessment, training and filter tuning services to optimise your effectiveness and efficiency.
Sanctions Screening is a Swift-hosted service allowing you to screen transactions against sanctions lists. With Sanctions Testing, you can test, tune and optimise your own transaction, customer and PEP filters. But it doesn’t replace these filters.
Sanctions Testing is used by global institutions operating their own sanctions filters. They use it to optimise their sanctions and PEP filters to improve their sanctions compliance programmes.
We take data from public sources. No customer data is used. Users can design and specify tests to include relevant risk data and meet their in-house risk objectives. We can also test your in-house lists if required.
We maintain up-to-date more than 50 sanctions lists from all the major regulatory bodies, including OFAC, United Nations, Europe and HMT. You can also add your own private lists.
Sanctions Screening can be used to test filters that are used for transaction, customer and PEP screening. It can be configured for any filter, whether that is an in-house solution or one from a third-party supplier.
We can test virtually any format, including Swift MT and MX messages, as well as other structured transaction formats, such as CHIPs, Fedwire or your own internal formats. For customer and PEP screening, we can configure the format to meet your own specifications.
PEP screening is usually only performed in a customer screening environment. The majority of the testing processes are similar, but the test structure and outcomes will differ between sanctions and PEP filters.
We offer standard onboarding packages and these can be tailored to your own implementation needs. Swift experts will train you on how to use the tool and optimise the value of your investment.
Sanctions Testing provides the benefits of independent, third-party testing without the cost and delays of commissioning an external consultancy to perform the testing on your behalf. You are able to test whenever you like and make updates based on test findings immediately. You’ll have the assurance that the tests and measurement processes are aligned with best practice, as defined by the leading institutions across the Swift community that use Sanctions Testing.