Selecting the Right Databases


When it comes to screening accounts and transactions against sanctions lists such as the U.S. Treasury’s Office of Foreign Assets Control (OFAC), compliance officers like you lose sleep over false negatives—the true matches they might not be catching. To minimise that risk, you spend your days wading through a flood of false positives—time-consuming alerts that are not true matches. But, do you consider the matches that are possibly missed because the right sanctions list was never selected for screening? And, are you wasting hours reviewing alerts from a list that did not need to be screened against in the first place? Selecting the correct sanctions lists for a screening process may be one of the most important decisions you can make…