FICO® TONBELLER Siron Embargo

FICO® TONBELLER™ Siron™ Embargo

Real-time transaction screening to prevent the financing of terrorism.

Product Details

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:

  • US Department of the Treasury: Office of Foreign Assets Control (OFAC)
  • EU Common Foreign Security Policy (CFSP)
  • Her Majesty‘s Treasury (HMT)
  • United Nations 1267 Committee's Consolidated List

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.

Certified solution

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.

Using advanced algorithms for transaction screening

‌  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.

Resources

people

Belarusian Bank Makes Crime Prevention the Key Priority

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?
description

FICO® TONBELLER™ Siron™ Embargo

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...
content_copy

Fight Financial Crime & Ensure AML Compliance with Siron™

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...
content_copy

Advancing AML Compliance with Artificial Intelligence

Artificial intelligence (AI) and machine learning are big buzzwords at present — there doesn’t seem to be a business problem where they are not being applied. Now AI has come to the world of anti–money laundering compliance. More firms ...