Putting AI to Work for Sanctions Screening

Sanctions lists are constantly evolving, making them a challenge to keep up with. Failure to comply can mean large fines and reputational damage. Organizations have typically sought to meet sanctions compliance needs through incremental technological improvements (such as a new, better screening system), large increases in hiring and exiting high-risk business.  

Did you know that false-positive rates in the alerts generated by screening tools can exceed 99%? To combat this, banks directly employ or contract out dozens or hundreds of individuals to manually review these alerts. That’s a lot of people doing a lot of tedious work – which leads to the potential for human error in catching those rare true positives and overburdened teams.  

There is a better and more efficient way! 

Join us for a webinar where we’ll introduce you to WorkFusion’s AI Digital Workers, Evelyn and Tara. They are ready-to-hire automation solutions that work with leading sanctions screening software, dispositioning L1 alerts with greater efficiency and more comprehensive audit trails than teams of people. As banks minimize manual review of obvious sanction screening false positives using Digital Workers, highly trained resources can be reallocated to more pressing compliance needs. False positive reduction is as much about risk enhancement and governance as it is about cost.