Screening ManagementΒΆ

The Screening Engine is the central piece of SimpleOFAC Suite. The screening engine is a service that screens customer name or payment transaction against the sanction list and gives an alert or no alert result.

The Screening Engine utilizes the sanction list to scan the text or messages. The user can create many different Screening Engines using a different set of sanction lists. For example, if Line of Business A needs to scan customer data, it only needs to scan the sanction list with origin equal to OFAC. Then the user can create a new Screening Engine named LOB A, for example, with a sanction list whose origin is equal to OFAC. This not only makes scans much more efficient, but also makes tests much easier to run.

The SimpleOFAC Screening Engine uses innovative indexing and search technology, providing high performance and quality. When the sanction list is indexed, we transform and normalize the data; for example, removing blank spaces (including new lines), stemming, removing a particular character, and replacing it with another. Those are called pre-processors. They are configurable and a new one can easily be added. There are many algorithms used; for example, Levenshtein distance algorithm, n-gram models and patterns, etc. Those algorithms also manage how the score (ranking) is calculated. There are lots of factors that contribute to the score. Each word has a weight, according to a few factors, such as its length, position, frequency, etc.

When a Screening Engine is created, the user has an option to exclude all the weak AKA. This would reduce many false positive alerts. See the Alt name section Search Result Alt. Name for details.