SironEmbargo Online Transactions Monitoring System

Siron®Embargo is a software for identifying people and organisations who are subject to sanctions. Siron®Embargo detects and stops all transactions to/from individuals and organisations named in the sanction lists. The institution’s customer holdings can be checked to ensure compliance with national, international and their own sanction lists. The payment transactions are monitored in real time

SironEmbargo

Highlights

Compliant with regulations

Satisfies all legal requirements (e.g. EU Regulations 2580/2001 and 881/2002) for combating international terrorism through the freezing of assets

Swift

Processes SWIFT (SWIFT MX, SWIFT MT), non-SWIFT (Merva, WBI-FN, ...) and SEPA (ISO 20022) payment-transaction formats

Online checker

Real-time checking of all sender/receiver data of transactions against national and international sanction lists, e.g. of the Office of Foreign Assets Control (OFAC), Common Foreign Security Policy (CFSP), HM Treasury, ...

Comprehensive search

Comprehensive search mechanisms (exact search, fuzzy search) for identifying transactions with a terrorist connection

Business rules

Whitelisting and individual business rules to reduce false positives and minimize checking overhead

Case management

Suspicious sender/receiver data of a transaction is displayed with the corresponding sanction-list entries, so cases can be processed quickly and efficiently

Audit proof

Audit-proof historisation of all system checks, work steps and decisions

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