Setting Server Preferences for Sanction Lists
How to set up your server preferences so that customers are checked against warning lists automatically.
Open 'Server Preferences'
- Click on 'File' in the Menu Bar at the top of your screen.
- Click on 'Server Preferences'.
Set your 'Server Preferences'
Select the 'Compliance Warnings' tab and set up your 'AML Compliance' by checking off preferred sanction lists:
- Be sure to check off 'Activate Rule Based AML Policies'.
- Also be sure to check off 'Perform Compliance Checks & Validations' in order to activate your preferences.
This is also where you can enter when you would like to have this check done in the field to the right, below.
ie; if you would like a customer profile to be required when a certain amount is made or a large cash transaction etc.
- 'Check customers against OFAC SDN sanction list' is the US sanction list. It is highly recommended you check this off as it is updated on a daily basis and is the most accurate of sanction lists.
- 'Activate OSFI, SEMA, NZ, UK, UN, AUSTRAC, EU Watchlists' includes sanction lists of seven other countries including Canada.
- 'Warn if customer profile is incomplete (KYC)' important for compliance with Know Your Customer.
- 'Warn repeat transactions for same customer N days apart' will set up a warning if a customer is making repeat transactions within a certain number of days. You can fill in the days in between transactions in the subsequent field 'No of days'.
- 'Automatically check customer before every invoice' will run a check on the customer every invoice.
- You can enter a 'Request a review of customer Profile after N days' in the subsequent field 'No of days'.
*It is recommended you check off all of the above mentioned boxes for optimal compliance.