6 Best Practices for Improving AML Screening

A new whitepaper by BankersAccuity outlines a number of steps banks can take to improve efficiency and compliance in anti-money laundering operations.
July 19, 2013

Risk Profile Patterns

The paper emphasizes developing a sense of how to go about a risk-based screening approach in terms of different types of data to decrease false positives. An example the paper provides is that PEI, a common Chinese surname, can be mistaken for the acronym of a sanctioned Iranian company, Pioneer Energy Industries. In such a case any other reference to that match in the transaction may be superfluous, the paper points out.

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