Governments generally have a good motive behind these watchlists - to fight financial crime and to help the public and private sector protect themselves against illicit actors. Unfortunately, most governments have a long way to go in terms of making their data accessible and usable.
Until that happens, we believe it’s important to enrich the data as much as possible, to make sure that no business gets penalized because they faced challenges screening government data.
What Do Source Errors Look Like?
The errors generally fall into three categories:
- Blobs of text which obscure useful information.
- Non-Standard data where the same item is given many different names, some often entirely incorrect.
- Missing data characteristics, such as when a listed entry is not assigned a type such as individual or entity.