AML screening refers to checking specific risk records relating to a customer or entity. It is one component of a broader AML programme; it is not the whole programme.
Types of screening
Sanctions and PEP records and other risk data carry different contexts. State clearly the purpose of the source and the check being used. Do not present name screening and transaction monitoring as the same feature.
How is a result read?
Assess separately the relationship of a possible match to the person searched for and the risk nature of the record. A similar name on its own does not mean the same person or a negative customer decision.
Operational use
Define at which stage the check runs, who handles the review and when reassessment is needed. Link result, source and decision rationale within your institution's processes.
See the related product scope → AML screening
Legichain — technology for identity verification, AML and blockchain screening. Contact: [email protected]