Now available on the Australian DFAT site, an updated version of LinkMatch. This software, which I have not used, will match data in a specific format to the DFAT, UK, EU, UN and OFAC lists. It comes with these lists, and instructions on how to update the lists over time is provided on an FAQ page.
Note: the OFAC SDN List is a “starter” list. It does not fully cover one’s screening obligations for OFAC (more about that in another post on another day).
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The following entities were removed, in response to a similar delisting by the United Nations:
AL-HAMATI SWEETS BAKERIES
BENEVOLENCE INTERNATIONAL FUND
BOSANSKA IDEALNA FUTURA
HEYATUL ULYA
RED SEA BARAKAT COMPANY LIMITED
SOMALI INTERNET COMPANY
The bakery is listed as having been reported as having “ceased to exist”. The remaining entities were removed in response to reviews completed in July 2010.
It should be noted that all of these entities are still listed on other sanctions lists, including OFAC. Firms that do business in the US or deal in foreign trade should take extra care before acting based on these delistings.
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OSFI removed 5 individuals from its Consolidated List on Monday, based on their removal from the UN list on the previous Friday. All 5 are deceased or presumed deceased.
It’s important to note that, if any of these people are on the OFAC SDN List, they will generally not be delisted from the SDN List. This is because OFAC’s goal is to stop the flow of money, and assets may remain in these listed people’s names after death.
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On Monday, OSFI removed the above person from their Consolidated list, after the UN delisted him on Friday, November 23. This was in response to a delisting request submitted through the Ombudsman at the UN.
Note: this individual is also currently listed by Her Majesty’s Treasury, the European Union (and explicitly by Spain and Belgium), the Japanese Ministry of Finance, SECO in Switzerland, the Hong Kong Monetary Authority and the Ukraine Financial Monitoring Authority. It is apparently not listed by OFAC, OSFI or AUSTRAC.
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I’ve been involved in some aspect of watchlist screening for 2 decades now. I’ve cleared OFAC matches and developed matching software for Swiss Bank (now UBS), and have spent the last 7 years consulting for a software vendor (currently called BankersAccuity, part of Reed Business Information).
On the side, I have blogged from time to time on various topics of personal interest, including writing, management and marketing/branding.
But what I know best is compliance, in general, and watchlist screening, in particular. So… Mr. Watchlist was born Thanksgiving Day, 2012.
In addition to the blog (I expect to post something at least weekly), I expect to post my published articles from American Banker, ACAMS Today and Money Laundering Bulletin.
Don’t hesitate to comment or correct my posts – my perspectives are just that, not any immutable Truth.
And, of course, if your organization could use my expertise… I’ll make that as simple as a click or two.
Welcome, and may your regulator never darken your doorstep for watchlist violations again.