TONBELLER

World Leader in Anti Financial Crime Solutions

Matching Payments with Sanction Lists

Preventing the financing of terrorism is another of the bank's task regarding compliance and anti-money laundering. Transactions have to be checked for links to international terrorism and stopped. SironTM Embargo matches sender or recipient data with entries in the sanction lists (e.g. names or aliases of terrorists, terrorist organizations, or criminals). Numerous national and international sanction lists are used, e.g.:

  • US Department of the Treasury: Office of Foreign Assets Control (OFAC)
  • EU Common Foreign Security Policy (CFSP)
  • Her Majesty‘s Treasury (HMT)
  • United Nations 1267 Committee's Consolidated List
  • Federal Gazette (Bundesanzeiger)

Transaction alerts triggered by a match with the sanction lists are "frozen" by the system. This prevents any possible transfer or change of ownership. Transactions without alert are returned to the payment flow. SironTM Embargo logs all checks, steps, and decisions for each transaction related to a case in an audit-proof manner.

Key functions:

  • Real-time matching of all recipient or sender data with national and international sanctions lists
  • Processing of SWIFT, non-SWIFT, and SEPA payments
  • Extensive search routines and sophisticated fuzzy-matching to identify persons with a criminal or terrorist background
  • White lists and custom check rules to reduce check expenditure and false positives
  • No IT knowledge required to specify settings and rules

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