3 Step Approach to Reducing False Positives
This paper discusses the three key steps you can take to reduce false positives and minimize the risk of missing a true hit.
Too many false positive alerts is one of the top concerns of compliance departments worldwide. On the flip side are false negatives – real sanctions or PEP hits that, for varying reasons, your system and process did not alert you to. While false positives are more prevalent, false negatives can have a far worse impact, such as fines and reputational damage. Organizations struggle with how to effectively manage both of these issues. The key is to take a balanced approach to keeping your match rate down without a corresponding increase to your risk level.