Sanction Screening: Head to Head Results

By Cognito Team on September 3, 2020

Effectively evaluating the data and match quality of the various sanction screening systems on the market is extremely difficult, especially for customers who have limited experience with knowing what kinds of edge cases can occur in real-world scenarios.

Cognito has fulfilled hundreds of millions of watchlist searches and have compiled a handful of patterns that we have observed. We then created examples using these patterns and ran them across a variety of other vendors in the watchlist screening industry to see how we stack up.

 

In Summary

  • Cognito Screening effectively reduces common false positives while handling complex real-world name inputs that cause other solutions to result in false negatives.
  • There are many vendors who offer watchlist screening, but they vary widely in terms of algorithm and data quality. Budget solutions often command budget results.
  • These examples are not just cherry-picked, but rather represent patterns for name variations. These examples cannot be fixed as one-off cases by vendors but rather represent an algorithmic-level deficiency.
  • Few vendors properly handle international names. Even if you only do business in the US, names are increasingly heterogeneous and require sophisticated handling.
  • There are very basic ways to circumvent most screening systems that are invisible or hard to spot by a human reviewer.

We encourage you to try some of these kinds of patterns on your watchlist screening system. The results may surprise you.

Curious to learn more? Check out our watchlist screening product tour.

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