KS-SCAN

KS-Scan is a sanction screening system that is integrated with SWIFT Alliance Access for filtering all SWIFT messages sent and received on real time basis. It enables financial institutions to filter online transactions against international & local ban lists to comply with Sanction Screening regulations.

KS-SCAN is delivered as SAAS meaning that the client does not require any local hardware footprint

The system consist of two mail modules .

  • Sanction screening Module- This module involves the legal policies, controls and actions that the bank    puts in place to detect and prevent money laundering activities.
  • Reporting Modules-This Modules helps for report generation.

 

Local and international Ban list

KS-SCAN supports local and also multiple international ban lists sources including:-

  • OFAC – US Treasury
  • UN Sanction list – United Nations (UN)
  • UK Financial Sanctions – HM Treasury
  • EU Sanctions – European Union
  • WORLDCHECK (requires subscription by financial institution)

 Sanctioned Countries

The system allows listing of countries by both country SWIFT code and name for filtering any transaction destined or originating from such a country in order to prevent fund flow to sanctioned countries.

Currency Threshold

This system also allows currency/amount limits to be set specifically for each financial institution; this can be set generally for all traffic or specific type of SWIFT messages.

Notifications

When a message is blacklisted by KS-SCAN, the system automatically sends an email notification to compliance officers registered on the system and then puts the SWIFT message on hold for the Compliance Officers to scrutinize and decide on fate of the SWIFT message.  The Compliance officer can decide to release message, block message, send message to modification or put message on hold for later action.

Reporting Module

This module provides the user with capability to filter data and derive detailed/summarized reports from several utility menus. This module provides several types of reports namely:-

Ks-Scan Statistics report –This report shows the count of messages with hits and those without hits after scanning by the Sanction Screening Module within a specified date period.

Messages in Queue reports –This report show the actual count of messages with SWITFT Alliance Messenger queues at any particular time.

Foreign Activity Report- This report shows, in summary and detailed views, the exchange of foreign financial transfers for specific message types (MT 103,202 or 700) and as per each currency transacted.

RTGS Activity Report – This report shows, in summary and detailed views, the exchange of local financial transfers for specific message types (MT 103,202 or 700) and as per each currency transacted.

High Value Transactions- This reports display a list of transactions whose amount value is beyond the specified currency amount value in report criteria.

User Workload- This report shows a count of all messages created, verified and/or authorized by a user in SWIFT Alliance.

User Activity- This report show the log of all actions executed when logged in to SWIFT Alliance.