The Wolfsberg Group has announced it endorses the “Guiding principles for screening ISO20022 payments” published by SWIFT, stating the adoption of ISO20022 improved adherence to Wolfsberg  group’s own ‘Payments Transparency Principles’. Whilst MT syntax amalgamates key data into a single field, ISO20022 syntax has dedicated tags for key data elements which can improve the efficiency and effectiveness of screening. FIs who have adopted ISO20022, or are planning to, should review the guidance against current methods of list matching and data points utilised.

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