SWF



THE CHALLENGES

In today’s complex and challenging financial environment, Financial Institutions (FIs) need an effective solution to filter transactions, payment messages, and customers against watch lists. Not only are regulatory requirements increasing, but it is also the sheer volume of transactions which pose new operational challenges for banks, especially those that are growing in size, and as a result, in compliance complexities. Today, FIs must aim not only to fulfill conventional compliance needs, but also to look further to protect their operations and reputation. This means a need for screening beyond sanction lists, covering consequently lists such as PEPs, adverse media and other watch lists. Furthermore, capabilities of advanced screening to detect financial crime techniques such as wire stripping, and to comply with FATF Recommendation 16, are areas banks need to address, and are equally important in meeting the requirements of national and international AML/CTF laws and regulations including FATF recommendations, UN resolutions, the EU anti-money laundering directive, and the U.S. Patriot Act. At the same time, FIs need to ensure highoperational efficiencies and low false positive rates to reduce costs and the risk of human error. 

THE SOLUTION 

en.SafeWatch Filtering is a web-based solution composed of a series of tools targeted to AML detection in real time and batch mode. With a highly-sophisticated matching engine, en.SafeWatch Filtering aims to be the central checking point for an institution’s financial traffic. Having a single detection point helps compliance officers and auditors to have only one interface where alerts from all sources are concentrated. At a very high level, en.SafeWatch Filtering obtains information from Data Connectors. Captured data is then processed by the server and checked against all loaded lists through a rule engine. After execution of these rules, detections can be either ignored or logged. They can also generate alerts that are sent to the central alert management interface. Alerts are regrouped to allow compliance officers or other en.SafeWatch Filtering users to display alerts, verify details, and act on alerts from a single point. This robust and real-time solution offers reporting and archiving capabilities that satisfy most regulators and audit requirements. Actions by the server and users are logged into the database’s protected audit trail and authorized users can query and report on the audit trail at any time.

Optimal protection with en.SafeWatch Filtering and Dow Jones 

Dow Jones Watch lists provide the world’s largest financial institutions and regulated firms with a high quality, well-structured risk screening solution for effective Anti-Money Laundering, Know Your Customer and Counter-Terrorist Financing compliance.  With accurate and comprehensive global coverage of high-risk individuals and entities, you can fulfill regulatory requirements to the highest standards.Enhancements on en.SafeWatch Filtering allow you to capture Special Interest Entities (SIE) and Special Interest Persons (SIP) that are not previously listed on sanction lists nor PEP lists. It also allows you to load adverse media Entities and  and  Relatives and Close Associates of PEPs. Download Factsheet below for more information 

KEY FEATURES

  • Screening Capabilities
  • List Management Capabilities
  • Detection Management Capabilities
  • High Operational Efficiency and Low False Positives
  • Reporting Capabilities
  • Archiving Capabilities
en.SafeWatch Filtering is a SWIFT Certified Application 


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Optimal protection with SWF and Dow Jones Risk and compliance databases

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New Powerful Feature in SWF 4.0

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