The Central Bank of Belize has deployed SWIFT’s Sanctions Screening solution to fight against financial crime.
At present, 27 central banks have deployed SWIFT’s Sanctions Screening solution that screens incoming and outgoing messages against the latest sanctions lists and sends instant alerts in case of matches.
Over 650 customers across more than 140 countries have subscribed to the solution since its inception in 2012.
SWIFT managing director for Latin America and the Caribbean Juan Martínez said: “As compliance and cybersecurity challenges become increasingly sophisticated, we are committed to helping banks to ensure payments are secure and compliant as well as faster and more transparent.
“Through our growing financial crime compliance portfolio combined with SWIFT’s Customer Security Programme, and global payments innovation initiative, we are addressing these dimensions together in order to take correspondent banking to the next level.”
Sanctions Screening forms part of SWIFT’s financial crime compliance portfolio that also includes The KYC Registry, Sanctions Testing, Name Screening, Payments Data Quality, and Compliance Analytics.