Challenges and Best Practices of AML Sanctions Screening, Part 2: Fine Tuning Your Matching Rules

Effective matching rules are critical to your screening program's success. Being able to explain and justify your rules to regulators helps to demonstrate proactive understanding and management of your internal controls and procedures. The “black box” approach towards your technology is no longer acceptable, especially with the heightened demand for transparency into algorithm-based decisions.

In addition, failing to properly define and leverage matching rules can greatly increase your false positives, as well as the risk of missing a true match and incurring fines or reputational damage.

Please join us for the second in this series of lively and informative discussions regarding the challenges and best practices associated with PEP and sanctions screening. In just 1 hour, we will provide practical tips that you can adopt to get the most accurate results without having to choose between risk and efficiency.

Specific topics include:

• Comparison of different matching technologies
• Incorporating transparency and explainability into your program
• Risk-based approach — customizing match rules based on risk type
• Reflecting your data quality in matching rules
• Determining acceptable volumes of false positives based on the results of your data analysis

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