When screening is conducted with respect to an individual, the screening will be undertaken in accordance with your Screening settings (see Verification settings) and will involve one or more of the following:
Politically exposed persons (PEP) check
Check against sanctions lists
Adverse media check
Where the screening check returns a possible match, this will be flagged for your attention.
Screening profiles
A screening profile is an option for customising what international lists are searched when you are running screening checks on your customer. As compliance admin you can select from one of the four profiles along with customising the fuzziness level and whether you have adverse media toggled on or off.
Within the customisation of the screening profiles there are four options you can select from. This can be customised at a company level or at an office level.
Customising at an office level could be useful if you have your offices set up in the platform as a workstream and would like more comprehensive checks completed on higher risk workstreams.
The default profile will be Standard and the default fuzziness level is set to 30% for each profile.
Fuzziness Levels
Fuzziness (Edit/Levenshtein Distance) is a matching technique that allows for a variation in spelling or small variations in the spelling of a search term and the entities returned in the search results.
The fuzziness will allow 1 phonetic typo per each word from the search term, the fuzziness percentage has more to do with the length of the word. Setting the interval is entirely dependent on your risk-based approach and how sure you are that the names you input for searching are correct (e.g. if you take the info directly from the customers' IDs, or if they input it themselves - which would be more prone to error).
Fuzziness can be useful as it allows for variations of the spelling, as well as spelling mistakes to be made during submission.
How to configure your profile.
Please contact your Customer Success Manager or email support@firstaml.com to discuss which profile you would like on your screenings.
To request a copy of the data sources used in the provision of First AML’s services, please contact Support.