Projects arise to enhance or remediate gaps in the payment environment. This can be driven by regulatory, financial or operational reasons. Where a financial institution has entered into agreements with US authorities, there may be specific requirements to comply with Deferred Prosecution Agreements, enforcements and Cease & Desist orders. We can help financial institutions:
Demonstrate that all payments that should be being screened are being screened across all messaging systems world-wide.
Review list management practices and rules to minimise hit rates and improve the quality of alerts.
Review consistency across screening solutions.
Prove that obligations to use MT202COVs and FATF R16 compliance are being met.