Launching AI-driven Fraud Detection
Oliver Furniss, Chief Product Officer
Below you’ll find a quick update on the latest news from our product team.
Any questions? Please speak to your customer success manager or email us at [email protected].
Sanctions Screening: Ukraine Sanctions List
In an effort to keep you up-to-date with the latest legislative and authoritative changes, we released a new sanctions list on May 12, 2023.
Ukraine National Agency on Corruption Prevention Sanctions:
- This list is issued by the Ukrainian Ministry of Foreign Affairs and maintained by the National Agency on Corruption Prevention.
- It contains sanctions imposed on Russian individuals and companies following Russia’s attack on Ukraine.
Sanctions Screening: Watchlist Sources Replacements
We suspended three watchlists and replaced them with two new lists that align with the authorities’ new publishing sources.
|Suspended List||New Lists|
|Spain Madrid Stock Exchange Trading Exclusions||Spain BME Stock Exchange Trading Exclusions|
|China Insurance Regulatory Commission Administrative Penalties Persons||China Banking and Insurance Regulatory Commission Administrative Penalties|
|China Insurance Regulatory Commission Administrative Penalties Organisations|
Sanctions Screening: Suspended Lists
We suspended several warning or sanctions lists due to changes from the source. The data from the suspended lists will still be available, but depending on your internal screening policies, you can deselect these.
Sanctions Screening: Company Search Matching
On June 6, 2023, we rolled out a set of algorithm updates to enhance company search matching. These updates improve the accuracy of detecting company name matches.
You should see no disruption, and you do not have to do anything. We’ll take care of it in the background.
Transactions Screening: “Two-Word Match” Name Screening is Going Away
We are deactivating the ‘two-word match’ screening setting.
This setting was originally designed to return results when two words in the name match exactly two words of an entity in our database. However, as our screening system can already return results when middle names are missing or do not match, we believe removing this setting is the best way to keep your screening algorithm as accurate and efficient as possible.
This setting will be deactivated on July 3, 2023. You don’t need to do anything.
Adverse Media: Expanded Coverage of Organization Screening in French, Italian, Spanish & German
Our Adverse Media product scans articles from media sources worldwide in various languages. You’ll now see improved coverage for adverse mentions of organizations in French, Italian, Spanish, and German. As a result of this, new searches and monitored searches for organizations may have additional matches. We’ll be introducing additional language coverage throughout 2023 and, as usual, deploying model improvements for existing languages.
Transaction Monitoring & Transaction Screening: New Interface to Upload Transaction Spreadsheets
On May 19th, we rolled out a new interface for uploading transactions into our Transaction Monitoring and Transaction Screening solutions.
Here is a list of changes we introduced to improve your experience:
- Functionality is split into 2 tabs for more intuitive use.
- Results page to show any spreadsheets that were previously uploaded or are still in progress.
- Upload page to add new spreadsheets to the upload queue.
- The results table includes the source format name if there is more than one source format.
- Now showing progress status instead of progress bar.
- Easier to read date-time format.
- More user-friendly messaging explaining the validation errors.
- More obvious way of accessing error messages.
- New warning message when re-monitoring of old transactions is started.
Originally published 03 July 2023, updated 03 July 2023
Disclaimer: This is for general information only. The information presented does not constitute legal advice. ComplyAdvantage accepts no responsibility for any information contained herein and disclaims and excludes any liability in respect of the contents or for action taken based on this information.
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