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watch list filtering

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Financial institutions are required to take measures to comply with international and national embargo regulations. This is intended to prevent terrorism financing . Pertaining to this, legislation has passed a number of binding laws and rules.

Examination of the SWIFT, non-SWIFT and SEPA payments
Suspicious payments must be stopped, the further execution is prevented. All relevant watch lists (OFAC, EU sanctions list) must be utilized for the embargo checking.

The checking does not only concern inter-bank transfers and transactions, but rather all types of financial transactions such as treasury, foreign exchange, money markets and derivatives.

Checking the customer base for financial sanctions
Furthermore, it is mandatorily required to identify people with terrorist background in the customer base of a financial institution or to reject them as a new customers during the account opening process.

Daily embargo lists
The European Union, the OFAC (Office of Foreign Assets Control) and other authorities publish embargo lists and make them available to financial institutions.
If there are changes in the lists, the automatic
updating mechanism checks the data on a daily basis.

SMARAGD TCM

targens GmbH - Calwer StraÃ??e 33 - 70173 Stuttgart
Phone: +49 711 222 992-900 - Fax: +49 711 222 992-999