VWatch

Watch is a list management tool.

Watch manages watch lists and creates and manages skips. Watch wizards perform pre-production tests of the impact of new watch lists and the effectiveness of skips. The Skip Wizard learns from the past and proposes options to the appropriate compliance staff.

Functions:

• Retrieves lists provided by Accuity, World-Check, OFAC, UN, EU,UKHMT
  Additional lists, such as private lists may be added
• Enriches data using variations, aliases and permutations (e.g. Brussel, Bruxelles, Brussels) to widen the scope of detection
• Adds skip entries to reduce the number of false positives
• Automatically generates permutations and variations (e.g. R. Jones, Jones R., Robert Jones, etc).
• Automatically groups together all appropriate aliases for a given individual.

As options there are also two new complimentary modules available. These modules reduce the amount of false positive hits even further which allows the operator to focus solely on truly suspicious transactions.

Wizards

Watch List Wizard

This wizard tests newly-published public or private lists in a stand-alone environment, prior to being used. It is therefore very useful in evaluating the impact of new or updated lists. In addition, false positives are indentified before they generate a high volume of false positives in a production environment. As a result, this feature can be used to train compliance operators.

Skip Wizard

The Skip Wizard provides step-by-step guidance to the compliance representative in an effort to create safe, precise and effective skips. The wizard uses statistics derived from previously evaluated hits and proposes potential skip values for review by the compliance representative. The statistics highlight the areas which can be improved and illustrate the potential decrease in false positives. In addition to the compliance department review or approval process for implementing skips, the Skip Wizard has a validation process which can be implemented if required.

Attachments:

VWatch product description