The risks of transacting with counterparties on watch lists is high.
The GSA SAM list contains people and organizations that have committed fraud against the federal government. The OFAC list consists of parties that are suspected of or have committed terrorism. And there are many other watchlists worldwide that should be considered. There are multiple ways in which your counterparties (employees, customers, vendors, and contractors can be compared to such lists.
Normalized Names and Addresses
Use the SortNormalize function to standardize the names and addresses of your counterparties and the population of the watch list. Then, use a many-to-many Join to identify matches. It's possible to integrate a fuzzy search dimension by specifying a filter in the Join for matches that are within one character of each other:
Difference(Vendor_Name, OFAC_Name) <=1
Percent of Word Matches
The normalized names and addresses can be parsed into their individual words with a script. A matching word score can be calculated to display the % of matching words between any two pairs of names or addresses. This level of granularity allows you to quickly order the results with the highest % matches first for review.
Additional Popular Analytics Tests
No two organizations are identical, but the vast majority consider many of the same tests. Learn more about these popular analytics tests