Ongoing Screening
Ongoing due diligence or ongoing screening is a common KYC/AML plan requirement in which Cases are periodically re-screened to ensure they are not impacted by new and updated sanction and watchlist entries that may have been added since their initial screening. This is particularly common when an organization has a long term relationship with the counterparty.
Information about US Treasury OFAC compliance can be found on their website (opens in a new tab).
By default, Veriscan frequently checks for new or updated sanctions data and when found, re-screens your cases against the new information.
Configuring ongoing screening within Veriscan can also be accomplished by associating a Case record with a Case Group that has been configured to re-screen the group at a given frequency.
Once linked to a properly configured Case Group, the Case will be re-screened based on the Ongoing Screening Frequency setting of the Case Group.
The Ongoing Screening Frequency for a Case Group can be changed at any time.
Configuring a Case Group for ongoing screening
- Navigate to the Case Groups view from the left navigation pane
- Create a new Case Group by pressing the + button on the top right banner
- Enter the required Case Group fields and select a screening frequency. For example: daily, monthly, etc.
A Case Group's last screening date and next screening date can be viewed from the Case Groups table.