Name Screening
Overview
Name screening is the process of checking individuals or entities against sanctions, watchlists, PEP lists, and adverse media databases. It is a core AML requirement, ensuring that financial institutions do not onboard or transact with prohibited or high-risk parties.Name screening systems use fuzzy matching to account for spelling variations, transliterations, and aliases. Regulators mandate ongoing screening throughout the customer lifecycle, not just during onboarding. Banks, fintechs, and insurers rely on automated tools to screen names in real time and reduce false positives while ensuring accuracy. Effective name screening is critical to avoiding penalties, preventing money laundering, and protecting institutional reputation.
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