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OFAC/SDN Watchlist Software Application Axiom #1
Never try to find out whether a company has a bad guy on their books by just matching a SDN list entry with the company customer data on basis of just first name and last name. You will be surprised how many “Jose Luis” you will find in your company database.
A better approach is to use date of birth in addition to the first name and last name. This rule will generate more accurate matches and your risk analysts will thank you for not generating “False Positive”
1 Apr 2008 at 01:27
<![CDATA[Good to hear your point of view Chetan! In some cases SDN dates of birth are estimates and I worry about the possibility of a date being different but the name being a spot on match (would you figure “Osama Bin Ladin” with a dob of 1/5/1958 to be a false positive?).
I personally feel that dates of birth are beneficial to include in these searches but in essence they are one of many forms of identification that should all be used to provide a better hit and reduce false positives.
Best regards,
Gabe]]>