Cross-checking transactions against sanction lists

Purpose

1.1. Automate the cross-checking of financial transactions against global and local sanction lists to ensure compliance with regulatory mandates.
1.2. Prevent illegal, fraudulent, or non-compliant transactions by comparing transaction data against updated watchlists.
1.3. Enable real-time or batch automated checks to support ongoing risk management and reporting obligations.
1.4. Streamline regulatory reporting and audit readiness by providing an automated compliance trail.

Trigger Conditions

2.1. Automated when a new transaction is initiated or finalized within the banking system.
2.2. Scheduled batch automation (e.g., daily, hourly) to re-screen outstanding transactions.
2.3. On sanction list update triggers automated rescreening of all pending or historical transactions.
2.4. Manual triggers via compliance officer request for targeted automated checks.

Platform Variants

3.1. Salesforce
• Function: Flow Builder with external API call to sanction screening service.
• Sample: Automate post-transaction event, invoke HTTP Request to screening API.

3.2. SAP
• Function: SAP GRC Risk Management – Sanctions List Management API.
• Sample: Automatedly map transaction fields to GRC Sanctions check.

3.3. Oracle Financial Services Analytical Applications
• Function: AML Watchlist Screening API.
• Sample: Automate rule engine to trigger API upon transaction save.

3.4. Fiserv
• Function: AML Risk & Compliance Automated Watchlist Screening.
• Sample: Configure transaction event automation in Fiserv AML Manager.

3.5. FICO TONBELLER
• Function: SironAML – Automated List Screening Function.
• Sample: Automate workflow node for real-time sanction cross-checks.

3.6. Actimize (NICE)
• Function: Sanctions Screening REST API.
• Sample: Automate REST call in transaction workflow for sanction detection.

3.7. Temenos
• Function: Temenos Compliance – Sanctions Screening.
• Sample: Automate scheduled or real-time screening workflows.

3.8. Finastra
• Function: Automated Compliance Filtering module.
• Sample: Automate event-based filtering with regulator list update triggers.

3.9. ComplyAdvantage
• Function: Transaction Screening API & Automator webhook.
• Sample: Automate transaction push via webhook to API for instant screening.

3.10. Refinitiv World-Check
• Function: API endpoint for real-time watchlist screening.
• Sample: Automate mapped transaction attributes for check endpoint.

3.11. LexisNexis Bridger Insight
• Function: Sanction List Screening Activation.
• Sample: Automate using web service configuration for live checks.

3.12. Dow Jones Risk & Compliance
• Function: Automated Watchlist Search API.
• Sample: Automate scheduled scans upon batch transaction import.

3.13. GBG
• Function: Automated Sanctions Review API.
• Sample: Automate RESTful calls on new transaction creation flow.

3.14. Jumio
• Function: AML Transaction Monitoring API.
• Sample: Automate submission of transaction data for screening.

3.15. ACI Worldwide
• Function: Enterprise Payments SanctionsScreen.
• Sample: Automate integration to sanction engine on payment save.

3.16. SAS AML
• Function: Automated List Screening Studio.
• Sample: Automate checks for every transaction with batch rescreening.

3.17. Experian Hunter
• Function: Automated Transaction and Sanction Evaluation API.
• Sample: Automate evaluation method on transaction pipeline.

3.18. FircoSoft (by Accuity)
• Function: Firco Screening API/Transactional Screening.
• Sample: Automate connector in payment processing automation.

3.19. ThetaRay
• Function: Automated Screening Engine with API
• Sample: Automate event-based alerts when matches are found.

3.20. SAI Global Compliance 360
• Function: Automated Screening Workflow.
• Sample: Automate compliance task assignment when sanction detected.

3.21. Microsoft Azure Cognitive Services
• Function: Text Analytics for Named Entity Recognition in transaction names.
• Sample: Automate extraction and screening of names/entities against lists.

Benefits

4.1. Automated sanction screening accelerates compliance and reduces manual overhead.
4.2. Automating cross-checks decreases risk of regulatory penalties and fines.
4.3. Automation enables scalable, repeatable compliance processes adaptable to volume surges.
4.4. Automated workflows provide auditable compliance records for regulatory review.
4.5. Automator-based approaches support instant response to new list updates.
4.6. Automation improves detection accuracy via regular, non-skipped screenings.
4.7. Automatable solutions reduce operational costs and enable continuous improvement.