BusinessObjects Watchlist Security
An Intelligent Data Quality Approach to Compliance Regulations
BusinessObjects Watchlist Security allows organizations to automatically match their internal company databases against government or association watch lists to uncover matches or suspect transactions. Verifying current business data against these lists ensures that organizations are not unknowingly supporting identified criminal suspects—such as terrorists, money launderers, drug traffickers, or individuals from sanctioned countries.
BusinessObjects Watchlist Security brings together demonstrated excellence in business rule development, data parsing, cleansing, and match logic—and offers a packaged compliance solution that can be deployed in a batch or real-time environment.
Through well-tuned data quality algorithms, the BusinessObjects Watchlist Security solution:
- Compares company data against interdiction lists, uncovering hidden relationships
- Reduces false positives, reducing the resource drain companies experience when researching suspected matches
- Provides extensive reporting and auditing capabilities needed to help prove due diligence
"Most compliance initiatives rely on one thing - data. My experience has shown that institutions are inadvertently playing "compliance roulette" - assuming their data is accurate or at least accurate enough to pass muster. The cost of not ensuring data quality in compliance can be anywhere from bad publicity and de-listing of the company to heavy financial penalties or criminal prosecution."
Mike Ferguson
Lead Analyst and Managing Director
Intelligent Business Strategies
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Europe: 00800 55 11 55 11
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Please contact a local sales office near you so we can help understand your business needs and tailor a complete solution that will work best for your business.
Alternatively, locate a Business Objects alliance or system integrator partner using our partner locator tool. These partners are global leaders in a wide variety of specialties, industries and vertical markets and can also work with you to create an overarching solution.
Key Features
Watch List Compliance: A Strategic Advantage
BusinessObjects Watchlist Security is built on a data quality foundation that uses sophisticated data cleansing and matching technology to compare data stored in your systems with individuals, entities, or groups found on government or association watch lists.
With a strong data quality foundation and powerful matching algorithms, organizations can decrease the number of false positives that need manual research—saving a great deal of time and effort. Business Objects automated solution helps meet regulation obligations and decreases the time it takes a compliance officer to find, research, and understand the possible "bad guys" or entities that match their files.
Over 30 Lists Provided with Automatic List Update Retrieval
Watchlist Security provides over 30 watch lists. This solution even alerts you when a particular list has been updated and is ready for retrieval. All data is provided in a single format, which eliminates having to search the internet for updates to government lists and then manually formatting those lists. A small sample of supported lists includes:
- Bureau of Industry and Security (BIS) Denied Persons List (DPL/DOL)
- Canadian Government's Office of the Superintendent of Financial Institutions (OSFI) List
- European Union (EU) Consolidated List
- Federal Bureau of Investigation (FBI) Most Wanted Terrorists
- Financial Crimes Enforcement Network List (FinCEN)*
- Office of Foreign Asset Control Specially Designated Nationals (OFAC SDN) and Blocked Persons List
Ensure Watch List Compliance
Compliance regulations are always changing. So it's important to make watch list compliance a key part of your organization's EIM strategy. With BusinessObjects Watchlist Security, your organization can:
- Avoid corporate and personal penalties and the public embarrassment of noncompliance
- Increase productivity by automating interdiction list processing
- Take advantage of a data quality foundation that provides more reliable matching against watch lists
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