Service Central management and sanction lists search
In addition to the above services and in order to assist financial institutions in fulfilling the requirements for regulatory compliance, Safer Payments anti-fraud system has been upgraded with functionalities in the area of sanctions lists.
Safer Payments supports the loading of the following lists, which are automatically updated on a daily basis, using the website resource of the relevant regulator:
- ОFAC sanction list
- European sanction list
- United Nations sanction list
The following additional lists are also regularly loaded:
- Consolidated list of persons in connection with Law on Measures against the Financing of Terrorism of SANS;
- PEPs (Politically Exposed Persons) list.
While working with lists, Safer Payments supports transliteration and uses integrated fuzzy logic, in accordance with regulatory requirements.
The sanction lists search can be performed against the following operations :
- Cash transactions (cash deposits and currency exchange)
- Intrabank transfers within the bank's system
- Incoming transfers (in BGN and other currencies)
- Outgoing cashless transfers (in BGN and other currencies)
- Outgoing cash transfers (in BGN and other currencies)
The system can perform offline customer verification based on the available customer base as well as verification against the financial institution's own positive and negative lists. Case management functionality is included to meet regulatory requirements. The results of the check against the sanction lists may generate cases stored in the system. Cases are configured to match the institution's internal procedures.
