Monitoring Financial Embargos

Monitor financial transactions automatically and stop them if they violate financial sanctions.

Checking financial transactions
Check Sanctions Lists & Blacklists

We support banks, insurance companies and financial service providers in the process of automating decision making. Our compliance software checks all incoming and outgoing payments for embargo violations. The Name Matching Transaction software automates the process of deciding which transactions are unusual and need to be clarified or stopped.

Risk-based Approach
Use software-based analysis to check a financial transaction for embargo violations     

The risk-based approach of our software gives financial institutions the ability to review payment transactions for embargo violations. If a suspicious transaction occurs, the transaction is stopped prior to execution. Monitoring is based on information relating to the payee, the country, or the Bank Identifier Code (BIC) of the beneficiary bank.

Identifying Prohibited Contacts

Business contacts linked to terrorism or other undesirable circles are prohibited. Corporations, banks, insurance companies and public institutions are not permitted to engage in business with organizations, corporations or individuals that are linked to terrorism.

Using Embargo Lists

To monitor transactions for embargos, banks use commercial lists or lists such as the EU or OFAC lists. Other embargo lists include banks with which no payment transactions should be conducted. Banks are identified on the basis of their Bank Identifier Code (BIC). Country lists are used to manage countries subject to special restrictions in payment transactions.

Software decides on Risk

In automated software-based analysis, a match is displayed when a name or an alias found on a sanctions list is discovered, a keyword or BIC from the Embargo Bank List occurs, or a country limit is reached or exceeded. The match means that the transaction is stopped, and the background needs to be clarified by the Compliance Officer.

Products
Software for Monitoring Financial Transactions
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Software for monitoring of transactions
Name Matching Transaction (NMT)
Monitoring financial transactions
The Name Matching Transaction software checks each incoming or outgoing payment against embargo lists or locked institutions. Only acceptable transactions are automatically released – risky transactions are set 'on hold' and must be clarified. Transactions that involve embargo countries will not be executed. Learn more about this compliance module.