Prevent Financial Crime and Avoid Regulatory Penalties with Real-Time Watchlist Monitoring
OmniEagle’s Global Sanctions and PEP (Politically Exposed Persons) Screening module provides a critical layer of defense against financial crime by automatically screening your customers and transactions against comprehensive, up-to-date watchlists. This ensures you avoid engaging with sanctioned individuals or entities, mitigate reputational risks, and maintain compliance with international regulations.
Screen against major sanctions lists, including OFAC (US), EU, UN, and other relevant regional and national lists.
Screen against global PEP databases to identify individuals holding prominent public functions and their close associates.
Include internal watchlists and lists provided by other sources.
Automated Real-Time Screening:
Automatically screen all new customers and transactions against watchlists in real-time.
Continuously monitor existing customers for changes in their watchlist status.
Fuzzy Matching Logic:
Employ fuzzy matching algorithms to identify potential matches even with slight variations in name or other identifying information.
Reduce false positives through intelligent filtering and scoring.
Automated Alert Generation:
Generate alerts for compliance officers when a potential match is detected.
Provide detailed information on the potential match, including the source of the watchlist and the rationale for the alert.
Integrated Investigation Tools:
Provide compliance officers with tools to investigate potential matches, including access to customer data, transaction history, and supporting documentation.
Enable easy escalation to EDD workflows for further investigation.
Audit Trail and Reporting:
Maintain a comprehensive audit trail of all screening activities, including watchlist updates, matches, and resolutions.
Generate reports to demonstrate compliance to regulators and internal stakeholders.
GWG (German Anti-Money Laundering Act): Comply with the GWG’s requirements for screening customers and transactions against sanctions lists and PEP databases.
BaFin Guidance: Aligns with BaFin’s expectations for a robust and comprehensive sanctions and PEP screening program.