The system in use by the mail and distribution firm is from UK-based supplier Datanomic. The dn:Director software will be used to screen freight and logistics customers and subcontractors, in compliance with stringent German, European Union, international and United Nations anti-terrorism regulations. The Datanomic system is being deployed in both German and English.
“As a group, we want to ensure we are not unknowingly doing business with criminals, terrorists or sanctioned individuals or entities,” said Reinhard Fischer, vice president for customs and trade affairs for Deutsche Post DHL Group.
Fischer said the firm reviewed about 20 different screening vendors, narrowed it down to a short list of seven, and selected Datanomic based on its ease of use and technical ability to "rigorously and systematically identify heightened-risk entities within customer bases".
The dn:Director system replaces an existing in-house system that was reaching its limits in terms of scalability, accuracy in data matching and performance.
“With our previous system, we always had a problem with the volume of false positives,” said Fischer.
The group has already deployed dn:Director in Germany and will be rolling out the system in Poland and the US over the coming months, with additional countries to follow. The system will be managed by the group’s internal compliance team located in Bonn, Germany.
Anti-terrorism screening has hit the headlines for various reasons this year. Among other news earlier this year, the Financial Services Authority (FSA) fined Royal Bank of Scotland Group (RBSG) £5.6 million for failing to have adequate systems and controls in place to screen transactions under money laundering regulations.
Under regulations banks must have proper systems in place to screen customers and payments against the Treasury List. This is a list of individuals and entities that are subject to financial sanctions. The law requires firms to not provide funds or financial services to designated persons unless a licence is obtained from the Treasury.
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