AML Screening Threshold
Delivered AML screening results are based on the search threshold setting. (Default: 93) The threshold value refers to the minimum value to determine any risk profile matched on the AML database.
To identify if the searched name matches a name within the AML Database, ARGOS utilizes three categories of a KYC applicant:
- 1.Name (Allow upper/lower case, diacritical mark, accent and name order variations)
- 2.Date of birth
- Using string distance algorithms to measure the difference between surnames.
- Using our internal dictionary of similar first names/nicknames to find matching names. For example when searched Tony, the search result also includes Anthony. Our database for similar first names is constantly updated to grant more accurate matches.
- Name Search: Using language variation (Levenshtein Distance Algorithm-based, original scripts/similar pronunciation)
- Verify whether the input data matches the date of birth(DOB) of the risk person in the ARGOS AML database. If the DOBs do not match, the search match rate is recorded as 80 points.
- Verify that the input matches the nationality within the ARGOS database. If the nationalities do not match, the search match rate is recorded as 80 points.
Note . The final matching score is the average value of the input field.
Example) name matching score: 86% , date of birth matching score: 100% , nationality matching: 80% Final matching score: (86% + 100% + 80%) /3 = 88.67%