TABLE OF CONTENTS
Summary
This article introduces you to our Entity Screening module and how it works.
Entity screening is conducted on all entities which enter the First AML platform. You can choose to opt out of this configuration (EU) or opt into this configuration (APAC).
Our capability allows for an easy-to-review, report and auditable solution for your entity sanctions and adverse media matches.
Off the back of the initial matches, these entities will be monitored on a daily basis. Nominated individuals within your firm will receive email updates on any changes in the entity’s screening status.
Please note there is a billable charge for each report. Please contact [email protected] for further information on costings.
How to review results
Begin in the Manifest Tab for your case, scroll down to see all entities. After running checks on each entity, you will be able to see the screening results.
If the entity has no hits, a green banner will show above their verification details, highlighting that the entity has cleared screening with no positive hits.
If the entity has any hits, a red and yellow banner will show above their verification details, highlighting that the entity has matched against sanctions or adverse media hit with a suggestion to review the screening hits
Please see the image below for examples of the above.
To review hits, click ‘Review hits’ within the yellow banner. This will take you directly to the screening report for the individual (see image below). You can review the hits from this page. The default status of each hit will be ‘Review required’.
Alternatively, you can navigate to the screening report by clicking on the entity name and then clicking on the Verifications tab:
The below image shows this entity is a match for sanctions and not a match for adverse media.
Scroll to the screening section, and click "View screening report" to view the screening matches.
Where to record your decision
Within the screening report for the entity, you can see basic information about the screening status. You will be able to view the potential matches and the reasons for the match.
Through this, you can leave any notes and change the statuses for sanctions and adverse media of the identity to no match, match or possible match.
You can click on each match to display the sources of their match and any additional information. The underlying sources will appear in a slide out to the right.
To record your findings, click the Edit button to the right of the screening header. This will open up a pop-up within the page. You can set the status for each section (No Match, Possible Match, Match) and add notes around the match as well. Click Save to save your decisions.
To review each hit, click the individual hit to see the key information and background sources. The platform will provide hyperlinks to the original data source and a snippet of the screening information e.g. a link to the news article. You can also edit the match status for each hit and set the status to Review required, False Match, True Match and Possible Match.
If you wish to record any decisions or internal notes, click ‘Expand review details’ at the top of the module to leave any notes. This will record the name of the last reviewer and the last review date. Click ‘Save note’ to save the note.
How to Whitelist Matches
If you have ongoing monitoring enabled, the Monitoring enabled toggle will control whether ongoing monitoring updates for this hit will be considered in future.
To ensure the relevance of ongoing monitoring, each hit can be opted into or out of ongoing monitoring. This helps to reduce noise from false positive hits and ensures that you only receive alerts for relevant updates.
All hits will be defaulted to “monitoring enabled”. Setting a hit as a False Match will automatically change this to exclude the hit from monitoring. This can be overridden by the user.
If an ongoing monitoring alert is received for a hit, we will first check the monitoring decision for the hit before creating a monitoring alert.
How to filter matches and hits
Results can also be filtered to help make searching and decision-making easier when there are a large number of results.
You can filter by the following categories:
- Status: False Match, True Match, Possible Match, Not Reviewed
- Categories: Sanction, PEP, Adverse Media
- Notes: Has notes, Does not have notes.
To hide the filters. click the Filters icon to the right to minimise the dropdowns.
How to make bulk screening decisions
To help clean up / manage large numbers of results (that are likely false positives), we have a bulk mode that can be enabled via the Bulk mode button.
When enabled, this will allow multiple hits to be selected and reviewed at once. You can select multiple or all of the hits at once and set the match status for all the hits from Review required to False Match, True Match or Possible Match. You can add a note to the bulk decisions, this note will be recorded against each hit.
Bulk mode also allows you to determine whether the selected hits should be enabled or opted out of ongoing monitoring.
How to add exceptions
You can add exceptions to the entity. This can be carried out at the top right of the entity profile page.
Here you can add temporary or permanent exceptions.
