What is it?
The Watchlist Report screens an individual across 1000+ global sanction, warning, fitness & probity, and PEP (politically exposed persons) lists. This is the most commonly used report type and is often required to have a full KYC/AML process built out.
There are many Watchlist Report and PEP report providers, so why choose Persona? We search against one of the largest databases containing 1000+ lists (and growing!). We allow for highly configurable search configurations to help reduce false positives and manual effort from your operations teams. And we allow for the ability to continuously monitor an individual against a set of lists, at the cadence of your organization's choice.
Watchlist Reports are highly configurable to ensure that your organization is looking only at the relevant information.
List configuration options
Option 1: Specify the types of lists an organization can search against, including sanctions, warnings, fitness & probity, and PEPs. This means an organization can, for example, search against all sanction and PEP lists but not against any warnings and fitness & probity lists.
Option 2: An organization can pick and choose exactly which lists they would like to search against. This means an organization can, for example, search against the Ireland Central Bank Revocation Notices, Switzerland Federal Gaming Board Blocked, and India National Housing Bank Penalties lists.
Search configuration options
We allow organizations to customize their search configuration to reduce false positive rates that are a very common problem amongst most watchlist screen providers.
Option 1: Exact match. We can specify the search to look for matches where the name matches 1-1 with what is on a list.
Option 2: Equivalent names (includes everything in option 1). We can specify the search to look for equivalent names.
- Hypocorisms (e.g. James <> Jim <> Jimmy)
- Homophones (e.g. Kearns <> Cairns <> Kerns)
- Abbreviations (e.g. Robert <> Rob)
- Transliteration (e.g. Mohammed <> محمد)
- AKAs (e.g. Alphonse Gabriel Capone, Al Capone)
Option 3: Search fuzziness (includes everything in options 1 and 2). Fuzzy name searching is a technique of finding names that match a name approximately. We can specify a fuzziness ranging from 0 to 100% (in increments of 10%).
We allow organizations to filter for watchlist matches from a specific set of countries.
We allow organizations to continuously monitor on any cadence. We do this because if a person is not a "bad actor" today, that does not mean that they cannot be a "bad actor" two months down the line. Because of this, it's critical for organizations to continuously monitor individuals and to make sure that they do not end up on any sanction lists, warning lists, etc. Customers have the ability to monitor someone on any time interval they would like to ranging from the most frequent basis (24 hours) to the least frequent basis (every 365 days).
Associated Workflow criteria
Many organizations who use the Watchlist Report also want to ensure they're marking inquiries for review that have an associated watchlist hit. Below are the criteria that we can build Workflows on to ensure that someone is reviewing the watchlist hits.
How does the Watchlist report work?
Organizations pass in a name and can optionally pass in a year of birth. Based on the search configuration and list selection, Persona will search for this name (and year of birth) against the set of lists specified.
What lists can Persona search against?
Persona can search across 1000+ sanctions, warnings, fitness & probity, and PEP lists. Please reach out to firstname.lastname@example.org for a full, comprehensive list.
How often are lists updated?
Sanctions sources are updated within 24 hours of the lists being updated on the original source. PEPs, fitness & probity, and warnings lists are updated within a month of the source being updated. For most recent information, we often recommend coupling the Watchlist Report with the Adverse Media report.