Global Benchmark enables a financial institution to regularly measure the performance of their sanction screening systems in terms of efficiency and effectiveness, and then compare their scores to the industry-standard aggregated scores of their peers around the world.
AML Analytics publishes monthly global, regional and industry specific Benchmark scores for both client screening and payment screening systems at Control and Manipulated level. We also provide specific Benchmark scores for Chinese Character testing and are the only company in the world to offer this.
AML Analytics creates a monthly Global Benchmark standardised test file using up-to-the-minute data from the most important global sanction lists for customers to run through their sanction screening system. Our unique testing process is straightforward and cost effective and we ensure that we have reflected important industry criteria in the scope of our Global Benchmark tests.
Our Global Benchmark tests have just become even more rigorous to ensure that our customers’ sanction screening systems are working to the highest standards. Tests now include non-sanction records that should be missed by a sanction screening system as an additional check to ensure that everything is working as it should.
Even if scores for Control are close to 100%, any misses will be exact names taken directly from sanction lists that are not being captured by a screening system. If the entire OFAC-SDN list of over 22,000 names was tested, a seemingly high score of 99% at Control level would still mean that 220 names in their original form may not have been identified and captured by a screening system.
The peer comparison process is easy using the advanced analysis features and interactive graphics available in our portal, Analyser Online.
To find out more, contact a member of the AML Analytics team by clicking on the interactive map