Siron® Embargo is a software for identifying people and organizations who are subject to sanctions.
The prevention of the financing of terrorist organizations is an additional responsibility of banks in compliance with AML regulation. Transactions are checked whether they are related to the international list of persons associated with terrorism and those transactions are blocked. Siron Embargo checks the … against so called “blacklists” (names of terrorists, terrorist organizations or criminals) such as:
- OFAC – Office of Foreign Assets Control: US Department of the Treasury;
- CFSP – EU Common Foreign Security Policy;
- HMT – Her Majesty’s Treasury;
- UN – United Nations 1267 Committee’s Consolidated List;
- Federal Gazette (Bundesanzeiger).
- “Real time” checks of all domestic and international payment transactions against international “blacklists”;
- Processing of SWIFT, non-SWIFT and SEPA payments;
- Procedures for more sophisticated checks and fuzzy-logic to identify criminals and terrorists;
- Rules for checking customers and lists for reduce the amount of false positive alarms;
- Customizable rules without knowledge of IT technology.