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To disrupt terrorist funding, Siron™ Embargo screens transactions in real-time by matching sender and recipient data with sanction lists. Numerous national and international sanction lists are used, including:
Transactions with alerts that are triggered by a match with an entry in a sanction list are "frozen" by the system. Transactions without alerts are released immediately and returned to the payment flow. The transaction screening system logs all checks, steps, and decisions for each suspicious activity in an audit-proof manner.
Increases accuracy while saving time and money
Minimizes false positives by utilizing sophisticated algorithms and reduces the compliance officer’s workload.
Stay compliant and safeguard the enterprise
Ensures compliance with international sanctions and the latest embargos in order to safeguard the enterprise.
SWIFT Certified Application label guarantees compliance with all SWIFT standards and connectivity with the SWIFT payment-transaction format.
Easily adaptable business rules in Siron™ Embargo enable enterprises to design a thorough efficient transaction screening process based on individual requirements. These rules may be applied to threshold definitions or automatic predefined actions before and after verifying a sanction list. The transaction screening system uses advanced algorithms that detect inverted parts of names, abbreviations, substitutions, different notations or deletions.
Real-time matching of all recipient and sender data against national and international watch lists.
Processes SWIFT, non-SWIFT, and SEPA payments.
Extensive search routines and sophisticated matching to identify terrorist related transactions.
White lists and custom check rules to reduce due diligence costs for transaction screening.
No IT knowledge required to specify settings and rules for watch list filtering.
We want to help you future proof the next step in your organization’s journey by sharing the lessons FICO experts have learned about building resiliency during tumultuous times. Register below to gain access to our virtual event series.
From April 20 through May 28, FICO will host a series of live webinars sharing best practices and strategies for resiliency in your organization. The topics fall within six tracks including adaptability, digital customer engagement, risk management, operational efficiency, building trust and protecting customers.
This course provides knowledge how Siron™ KYC is used in KYC business processes, e.g. customer onboarding or ongoing customer screening. It explains the details of the check processes and the configuration options from the business point of view. It also shows how business rules can be built in general, and in particular be used for risk assignment.
This course provides information about the features and functionality of Siron™ ACM Alert and Case Management. It shows the user's point of view, and it explains administration and configuration options for power users.
This course provides essential knowledge about the technical environ-ment and processes of Siron™ Embargo. It focuses on the aspects that are relevant for technical consultants and IT staff, in particular general understanding of technical prerequisites, and product and interface han-dling.
This course provides information about the technical environment of Si-ron®ACM Alert and Case Management.
This course explains elements and functions of the Siron™ programming lan-guage. It focuses on those aspects needed for rule building in the Siron™ prod-uct suite and shows examples of how to use Siron™ syntax in Siron™ AML and Siron™ KYC.
Fintechs and challenger banks have put a dent in the financial services universe. By developing compelling new products, services and experiences, these companies have set a new standard and raised customers expectations. While traditional...
Belgazprombank has implemented a system to screen financial transactions and customers to help prevent crime. But which security issues need addressing? And how will working with FICO resolve them?
In recent years, banks’ failure to meet embargo or sanctions obligations has led to record-breaking fines and even the withdrawal of a banking license. Keeping pace with complex, ever-changing regulations, exploding transaction volumes and...
To prevent financial crime and terrorist financing, organizations of all types have joined the global fight to stop criminals from realizing the financial benefits of their crimes. Compliance with regulatory obligations for anti-money laun...