Sanctions Checker

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See the NOVUS Walkthrough Guide for general information about the system.


The sanctions checker is a feature that allows clients to have their accounts checked to make sure there are no international or government sanctions against them restricting trade. Requests can be submitted using NOVUS on an ad-hoc basis and are carried out automatically once a month.

The NOVUS sanctions checker works directly with the Financial Sanctions Register and the US Treasury OFAC (office of foreign asset control) list and enables the check of client accounts on both an ad-hoc and routine basis.


PARTNER and EPARTNER

Using the PARTNER program users can request that the account be sent for checking. This will be reflected in the sanctions checker panel in NOVUS. The current queue in the panel will display all checks that are waiting to be processed, have a problem or have failed their check.

The account type field in the PARTNER program is used to indicate whether the account is for a 'C'ompany, 'I'ndividual or 'O'ther. This affects how the name is structured as it is passed to the sanctions check provider.

There is an optional setting in each dataset to automatically re-test in the event that the account name or short name are amended in any way.

Forename and surname fields are sent to the sanctions checker in separate fields where available, old partner records are unaffected and continue to be checked in the way they are in previous versions of NOVUS.


Account has failed

An account will fail if some matches (irregularities) have been found and appeared in the report that would automatically set the flag to "Y" in the PARTNER program for that account.

If the account has failed its check then an additional option is available to the compliance officer. The compliance officer is able to mark the entry as a false positive, meaning the officer can overrule the check and mark it as a passed account.

When a sanctions check fails, the service will email both the author of the request and the compliance officer. If the request to check has been submitted by the command console then an email is sent only to the compliance officer as the originator of the request is an automated service. Only failed items will produce a report


Account has a problem

If an account has a problem then the compliance officer and the user who submitted the request are notified immediately. They can resubmit the request or view a report of the issue.

An account will have a problem if there is not enough data in the PARTNER record (e.g. country, address).

If there is no address then the service will still check the account but will mark it initially with a warning. It will then save the reason for the warning in the database and continue the check. If the check passes then the status is changed to passed and the warning is displayed alongside the check result in the email that is sent to the compliance officer after the check.

When a sanctions check comes back with a problem the NOVUS panel indicates this to the user. The user then fixes the problem and rechecks the account.

If this account then passes, NOVUS should no longer show the problem listing.


Account has passed

The recently passed section of the NOVUS display panel shows all of the passed checks within the last 72 hours. On each item, any user is able to right-click and view the account in the EPARTNER program.


The Sanctions Checker functions

  • NOVUS panel split into 2 sections: recently passed and current queue
  • Double-clicking on a row or account will open the account in the EPARTNER program.
  • Highlight problems i.e. pink for failed, yellow for problem
  • All failed items will have a report
  • Both the compliance officer and the requester can right click and re-submit but only the compliance officer can mark it as false positive
  • Once re-submitted the status is changed to resubmit and a new line is created with waiting



Checking Ad-hoc

To run a quick check on an account, possibly because the address or company name has changed, use the EPARTNER and PARTNER programs.

Sanctions Check.PNG
Figure 1: EPARTNER program with "sanctions" field and button.


To run an ad-hoc query load the account details into the EPARTNER program. On the same screen, it is possible to view the status of the latest check that was performed on the account.

Accounts with the stop flag on can still be checked but please note, the sanctions checker service will never remove a stop flag from an account. If an account should come back with a problem or failed checks then the sanctions checker service will apply the stop flag to the account.

When the ad-hoc check has completed both the person who requested the check and the compliance officer for your company will receive an email back with the result of the check. If there was a problem with the request then the details of the problem are sent within the email.

Sancher check2.jpg
Figure 2: All emails from the sanctions checker service follow the same style and layout.

The status of all checks, ad-hoc and routine, are shown in the sanctions checker panel within NOVUS. There is more information on this panel further on in this document.


Routine Checks

The NOVUS sanctions checker service is configured to run a check on all accounts within NOVUS every month. It does this overnight and upon completion, it will send an email with a status report of the check to the registered compliance officer of the company.

Sanctions Checker search report.png
Figure 3: Routine check report


Should any accounts have experienced problems or failures during their check then the email will report each and every occurrence including each match received for a failed check. This status will also be reflected in the sanctions checker panel in NOVUS.


Sanctions Checker Panel

NOVUS has a panel in the upper-right corner of the main dashboard which displays the current sanctions checker situation.

Sanctions Checker.PNG
Figure 4: Sanctions Checker panel in NOVUS

The panel shows the latest check requests. In the top panel any requests that are awaiting processing, and requests that have problems or have failed are displayed.

For both issues right click on the entry and select from a variety of options such as viewing the record in EPARTNER, re-sending the request to check (especially useful if the problem is a lack of connectivity) and viewing the report. In the case of a problem status, the report will show the same information as the email. For any failed checks the view report option will show you exactly why the check failed.

The registered compliance officer of your company will be able to view each individual failure and by right-clicking on the item, select review matches' for specific failures they wish to mark as false positive.


Sanctions Check review.PNG


Sanctions Check review matches.PNG


The recently passed section of the NOVUS display panel shows all of the passed checks within the last 72 hours. On each item, any user is able to right-click and view the account in the EPARTNER program.


Sanctions Checker Shortcuts

Right clicking on an account in a navigation tree will give an option to run a sanctions check.

Sanctions checker shortcut.PNG


Version History

v6.0.0 – Updated to the latest version

v4.2.0 – Updated to latest version