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New SWIFT Whitepaper on compliance costs

SWIFT has issued a concise (3 page) whitepaper on the challenges of watchlist screening. While it doesn’t do much to address the solutions to the quandary that regulated firms face, it lays out the problems pretty effectively. These include: The growth in watchlist listings in the recent past (they estimate […]

Holy ship!

While most of OFAC’s sanctions programs are targeted to lists of specific individuals and companies, there are still a number of programs that are far-reaching, covering entire governments and/or countries. These programs, in general, embargo every transfer of assets involving nationals of the affected country or all institutions and persons […]

Software Update: LinkMatch

Now available on the Australian DFAT site, an updated version of LinkMatch. This software, which I have not used, will match data in a specific format to the DFAT, UK, EU, UN and OFAC lists. It comes with these lists, and instructions on how to update the lists over time […]

OSFI removes 6 entities from Consolidated list

The following entities were removed, in response to a similar delisting by the United Nations: AL-HAMATI SWEETS BAKERIES BENEVOLENCE INTERNATIONAL FUND BOSANSKA IDEALNA FUTURA HEYATUL ULYA RED SEA BARAKAT COMPANY LIMITED SOMALI INTERNET COMPANY The bakery is listed as having been reported as having “ceased to exist”. The remaining entities […]

Death and OFAC

OSFI removed 5 individuals from its Consolidated List on Monday, based on their removal from the UN list on the previous Friday. All 5 are deceased or presumed deceased. It’s important to note that, if any of these people are on the OFAC SDN List, they will generally not be […]

Ibrahim Ben Hidhili Ben Mohamed Al-Hamami

On Monday, OSFI removed the above person from their Consolidated list, after the UN delisted him on Friday, November 23. This was in response to a delisting request submitted through the Ombudsman at the UN. Note: this individual is also currently listed by Her Majesty’s Treasury, the European Union (and […]

Who watches the Watchlists?

I’ve been involved in some aspect of watchlist screening for 2 decades now. I’ve cleared OFAC matches and developed matching software for Swiss Bank (now UBS), and have spent the last 7 years consulting for a software vendor (currently called BankersAccuity, part of Reed Business Information). On the side, I […]