What’s New in Alessa – AML Compliance and Sanctions Screening
There are a number of new and exciting enhancements in the latest version of Alessa (version 5.5.2) to assist in your investigations and get more out of the solution. Here is a summary of some of the most notable additions:
Triaging potential sanctions screening matches
In this release, the screening alert interface has been redesigned so that alerts allow users to triage possible matches and make decisions quickly. The details for each prospect are organized logically so users can identify the most relevant pieces of information.
- Profile: Quickly review demographic details for a prospect, including biography, aliases, category, locations and identifications to help you decide if it is a match.
- Timeline: View a list of significant events related to the selected prospect in chronological order.
- Connections: View associated entities in a social network diagram to discover connections quickly.
- Locations: Associated locations for a selected prospect are displayed on a map.
- Sanctions: View a list of sanctions that have been filed against a prospect.
- Keywords: View any sanctions list keywords that are associated with the selected prospect.
Other enhancements for the screening module include:
- Confirm Matches: In this release, once a screening match is confirmed, all other matches are dismissed, and the alert history is updated with the action taken to reduce the time for users to complete the screening process.
- Adding Comments to Dismissed List Screening Matches: To enhance the investigative process, Alessa can now be configured to make it mandatory for users to add a comment while dismissing or restoring potential matches. Additionally, the system adds a comment with the unique identifiers (UIDs) of all matches dismissed automatically when a user confirms a match.
- Print World-Check Profiles: Print a selected World-Check profile to PDF. The PDF output includes details such as profile, timeline, connections, locations, sanctions and keywords.
- Submit Multiple Countries: Users can now narrow their search results by submitting multiple countries related to an entity. This feature is available for on-demand, batch and real-time screening.
Improved User Experience for On-Demand Screening
Conducting on-demand searches has been made simpler by removing unnecessary fields and clearly creating a distinction between person and business searches.
- Person and business searches are done on separate tabs to provide more clarity. While conducting a person or business search, only applicable fields are displayed.
- Filter your search results to reduce false positives by selecting the categories that are most relevant to your due diligence process.
- Specify an IMO (International Maritime Organization) number while screening vessels.
- While screening persons, specifying a gender is no longer required. Additionally, you can select Unknown if you do not know the correct gender.
- If you do not have the full date of birth for a person, you can submit the day, month or year.
In addition to the above enhancements, users can expect to see
- Enhancements to the screening configuration tool, ability to schedule batch screens and ability to store sanctions/list screening results
- On-premise clients can now take advantage of the integration with CLEAR ID Confirm from Thomson Reuters
- goAML SAR, Nil, and Authorized Disclosure reports as well as IRS Form 8300 are now available
About Andrew Simpson
Andrew Simpson (LinkedIn | Twitter) is Chief Operating Officer at CaseWare RCM and has more than 20 years of experience building businesses in the fields of information systems audit and security, data analytics, Anti-Money Laundering and forensics. He is a regular contributor to conferences and a recognized thought leader in financial crime management.