Training Course Syllabus:

Your Sanctions Program and How to Clear True Hits and False Positives

Objectives of the Presentation

How sanctions lists are developed and why they are important
The numerous types of sanctions lists
Who can be included on sanctions lists
What should a financial institution include in its sanctions list compliance program
How to determine if a potential hit is a true hit or just a false positive
How to clear a hit, either as a true hit or as a false positive
How to document the final decision

Why Should you Attend

There are many sanctions lists with numerous companies, individuals, and countries listed. As financial institutions conduct their reviews of these lists for the possibility that one of their customers may be identified on these lists, there is the high likelihood that some of these hits may be false positives. Since there are numerous companies and individuals with the same name, it is important that institutions know how to conduct further research and due diligence on these hits to make sure they are in fact true hits and not false positives. A financial institution must have a specific policy with procedures for employees to follow to ensure that all hits are researched and cleared and that false positives are clearly identified.

This course will discuss the many areas involved with sanction lists such as: examples of who is included on these lists, a discussion of how the lists are compiled, methods you can use to analyze hits related to your customers and the lists, and ways you can ensure that a hit is properly disposed of, either as a true hit or as a false positive.

Seminar Summary:

This course will discuss procedures and processes your BSA department can employ when your institution is clearing and disposing alerts for potential hits identified by your screening process related to companies, individuals, and countries identified by government, international, internal, and other lists as sanctioned or of concern for money laundering, terrorist financing or other criminal activity. (see full course description)

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