Corporate Scan

Corporate Scan¶

Compliance Officers, Advanced Users, Standard Users and Data Entry Operators can run scans on behalf of the organisation they are assigned to.

Billing Officers and Auditors are not able to run any scans.

The Corporate Scan section is used to perform single and batch scans of companies / organisations / businesses against the selected watchlists, review scans performed previously and implement due diligence decisions on matched corporate entities in order to build a Whitelist for future corporate scans.

Stoplist¶

Corporate scanning involves use of a stoplist, which holds words, special characters and punctuation that are filtered out (i.e. stopped) and are not taken into consideration in the matching process.

The stoplist is applied for both Exact and Close matching.

Stoplist words include all the commonly used company suffixes, such as Pty, Ltd, Inc, Gmbh and Corp for example. Stoplist special characters include characters such as &, - and @. All punctuation is included in the stoplist.

Matching methods¶

Fields and how they are matched:

Field	Matching method	Exact match	Close match
Company Name	Against full company name minus stoplist words, special characters and punctuation	If the watchlist record name is exactly the same as that entered in Company Name	Uses close matching phonetically based algorithms to identify watchlist record names that could be a match.
ID Number	Partial or full number entered.	If the watchlist record contains the ID Number or if the watchlist record has no ID Number	If the watchlist record contains the ID Number or if the watchlist record has no ID Number

Mandatory fields¶

The only mandatory field in corporate scanning is Company Name (and Org ID in batch scans).

Scan Parameters¶

The scan parameters used in Corporate matching are:

Option	Description
Match Type	Used to determine how closely a watchlist entity must match a corporate before being considered a match. Unlike Member scans, `Close` match does not include a `Close Match Rate` threshold. The options are `Exact` or `Close`.
Whitelist Policy	Used for eliminating match results previously determined to not be a true match. The options are `Applied` or `Ignored`.
Company Name	Mandatory. Full or partial name can be entered for matching.
Entity Number	Company reference / account ID. Include an Entity Number to enable due diligence decisions to be applied and for reporting and reconciliation purposes.
ID Number	Company registration number, e.g ABN, ACN, NZBN, CRN, RN etc. Full or partial ID Number can be entered for matcing.
Address	Enter for reporting and manual comparison only

Scanning and Matching Parameters¶

Corporate Scan - Scan New allows you to scan companies by entering information into the fields provided.

The scan options are either stated, if set at organisation level, or presented as radio button options, if set as User Defined.

If you are assigned to multiple organisations, select the Organisation you are scanning on behalf of from the drop down list.

You can scan on behalf of one organisation at a time, only.

Company Name¶

You must enter a Company Name before you can perform a scan.

Entity Number¶

Entering the Entity Number allows you to record due diligence decisions and allocate assessed risk on the matches found.

ID Number¶

You can enter a full or partial ID Number of the Company in the Scan Parameters.

ID Number matching

Because ID Numbers can have varying sizes and formats, ID Number matching always uses the 'contains' principle, regardless of whether Exact or Close matching is performed on the Company Name.

Address¶

You can enter a full or partial address of the Company, however no matching is performed on this field and is used for reference.

Match Type¶

Used to determine how closely a watchlist corporate entity must match a company before being considered a match.

If options are displayed for Match Type, select the appropriate radio button. If no options are available, the default match type is predetermined by your organisation’s Compliance Officer.

Compliance Officers can change the Match Type setting in Administration > Organisation > Settings tab

Option Description

Exact

The Scan Results show matches, where the Company Name matches exactly.

Example:

A search for Community First Bank Ltd, Community First Bank Inc, Community First Bank Corp or Community First Bank & Co will identify matches with Community First Bank
A search for names such as Community First, Community First & Co, Community First Corp will not produce matches.

Close

Identifies possible Company Name matches in the watchlist company name field.

Example:

A search for Community First Bank Ltd will identify approximately 40 matches with companies that have a match for Community, First, and Bank in their name.
A search for Community First Bank of Charleston Ltd will identify approximately 1 match with companies that have a match for Community, First, Bank, and Charleston in their name

Scanning a commonly used company name using a close match can result in hundreds of matches. Scans that result in large number of matches will be limited to the first 200 matches and a message will be displayed to advise you to refine your search.

Whitelist Policy¶

Used for eliminating match results previously determined to not be a true match.

If options are displayed for Whitelist Policy, select the appropriate radio button. If no options are available, the default Whitelist Policy is predetermined by your organisation’s Compliance Officer, in the Organisation Settings:

Option	Description
`Apply`	Watchlist matches for a specific company (Entity Number). Previously classified as a `No Match` will be excluded from the scan results.
`Ignore`	All matching names are displayed.

The Whitelist Policy can only be used in conjunction with the Entity Number. When the Apply option is selected, the scan result will only show results where the due diligence Decision is Not Reviewed, Match or Not Sure. Where the Ignore option is selected, the scan result will show all results regardless of their due diligence Decision.

Scan a Company¶

If you are assigned to multiple organisations, select the Organisation you are scanning on behalf of from the drop down list.

You can scan on behalf of one organisation at a time, only.

Enter the following information for the Corporate entity:

Field	Required	Description
Company Name	Mandatory	Company name
Entity Number	Optional	Entity reference or account number for the company. If you wish to record due diligence decisions and allocate assessed risk for matched entities, this field is Mandatory.
ID Number	Optional	Company's registration number such as ABN, ACN, NZBN, CRN, RN or equivalent. The ID Number entered will be used in the matching process and Company Name matches will be returned if the ID Number is 'contained' in the watchlist record.
Address	Optional	Enter all or part of the Company address. There are no restrictions imposed on the format. There is no matching on address but is useful for manual comparison with matched corporate entity addresses.
Update Monitoring List	Optional	To add the corporate entity for ongoing monitoring, select this check box to add the entity to the Monitoring List. Only entities with an Entity Number will be able to be monitored by the system. Where the Compliance Officer has set the monitoring settings to be automatically added during scans, you will be displayed an appropriate message. Any scans with a Entity Number will automatically be added for ongoing monitoring. Note: This option is only visible if your organisation and user account is enabled for monitoring.

Click the Scan button to run the scan.

On successful completion of a scan, the number of matches found and results of the scan, if any, are displayed.