Use Cases
Checking blacklists is an essential part of a bank's risk management and compliance processes, helping to protect the institution, its customers, and the broader financial system from various threats and vulnerabilities.
A salesperson inputs an individual customer's information. This information typically includes identifying details such as full name, nationality, residence, date of birth, and legal identification number (for example: national passport number, national identification number, other identification number)
The application makes a request to the Check AML Blacklist Individual API via the API Hub.
Upon receiving the request, the API Hub processes it and forwards the request to AML. (AML application is responsible for maintaining and updating the blacklist databases)
AML then checks the applicant’s information against their databases of AML blacklists, including:
- Sanction Country List: Identifies countries subject to international sanctions.
- FATF Country List: Includes countries flagged by the Financial Action Task Force (FATF) for strategic AML/CFT deficiencies.
- UN Sanction List: Contains names of individuals sanctioned by the United Nations Security Council.
- EU Sanction List: Includes individuals subject to sanctions imposed by the European Union.
- OFAC SSI List (OFAC Sectoral Sanctions Identifications List): Maintained by the U.S. Office of Foreign Assets Control (OFAC), this list includes individuals involved in activities that threaten U.S. national security, foreign policy, or economy.
- OFAC SDN List (OFAC Specially Designated Nationals List): Also maintained by OFAC, this list includes individuals engaged in illegal activities or terrorism.
- Black List MPS (Ministry of public security): Lists individuals involved in money laundering or related financial crimes.
- Wanted List MPS (Ministry of public security): Includes individuals wanted by the Ministry of public security for various criminal offenses.
- Wanted List Other: Includes individuals wanted by other security for various criminal offenses.
- Warning List SBV (State Bank of Vietnam): Includes individuals flagged by the State Bank of Vietnam for financial or regulatory concerns.
- Warning List NCB: Includes individuals flagged by NCB bank
- PEP List (Politically Exposed Persons): Contains individuals who hold or have held prominent public positions, potentially making them higher risk for corruption or financial crime.
After the blacklist check is completed, AML sends a response back to the API Hub. This response indicates whether the applicant is listed on any relevant blacklists and may include additional details if needed.
The API Hub forwards the response from AML to the third-party application.
The third-party application receives the AML blacklist check result, the salesperson then bases on the request to make decisions on the customer's application.
