Embargoes & Anti-Terrorist Financing Compliance Solutions

Most governments, mainly in the emerging markets, are reinforcing their regulations on illegal trafficking to fight money laundering & terrorist financing. The stringent regulations impact not only Banks but also non-financial institutions (accountants, notaries, real-estate agents...). Learn more about Compliance

Firco Filtering Suite is a complete solution enabling financial institutions to comply with international AML regulations such as general transaction filtering and Know Your Customer (KYC) procedures.

Our Suite of filtering solutions eliminates the risk of processing illegal transactions and detects high-risk financial customers by filtering any payment messages and customer information, against any combination of sanctions/PEPs & FEPs (Politically Exposed Person & Financially Exposed Persons) lists.

Many lists to comply with...

The United Nations, the Financial Action Task Force on Money Laundering (FATF), the US Office of Foreign Assets Control (OFAC), the European Parliament, among others, issue lists of thousand of entries (companies, countries, vessels or individuals) for which financial transactions must be blocked. When doing international business, institutions have no other choice but to comply with governmental regulations, otherwise, they expose themselves to severe sanctions.

Moreover, Third-Party lists (like Factiva, World-Check) offer databases of PEPs and FEPs which enable financial institutions to efficiently screen their customers, associates, transactions and employees for potential risk.

As 50% of Firco filter performances are based on the quality of the lists, the main challenge to remain compliant is to remedy to the rapid growth and overnight changes of these lists. As a result, Sword FircoSoft developed a highly efficient & easy list management to make the most of the complete and powerful filtering capabilities of Firco Filtering Suite. Learn more about Firco Lists Service

Firco Filtering Suite addresses the following goals of your AML programme:

• Transaction filtering to automatically block illegal transactions, with Firco Continuity. Learn more about Firco Continuity
• Enhancement of your Customer Identification Program, part of the KYC policy with the screening of your customer database to detect high-risk financial clients, with Firco Trust (FT). Learn more about Firco Trust