OFAC has upgraded its sanctions list search tool with fuzzy logic that is more resource-efficient.
27/01/2021
The new fuzzy logic is intended to improve the performance of Sanctions List Search and make it more responsive.
As a result of the new logic, users may see differences between search results from the previous version of the tool and the more recent version.
- (Source: US Treasury 25/01/2021). https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20210125#:~:text=OFAC%20has%20upgraded%20its%20sanctions,and%20make%20it%20more%20responsive.
It's important to note that regulators expect Automated Screening Tools (ASTs) to apply fuzzy logic for sanctions screening.
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