How counterparty whitelisting works in transaction screening
When you whitelist a counterparty in transaction screening, Flagright treats the combination of name, account number, and user ID as a unique identifier. All three fields together define the whitelisted counterparty.
This means:
A counterparty with the same name but a different account number is treated as a different counterparty and will not be whitelisted.
A counterparty with the same account number but a different name is also treated as a different counterparty and will not be whitelisted.
For a counterparty to bypass screening, the name, account number, and user ID must all match the whitelisted record exactly.
Why it works this way
This approach prevents overly broad whitelisting. If only the name were considered, any transaction involving that name regardless of the account would skip screening, which could introduce compliance gaps. By requiring all three fields to match, whitelisting stays precise and reduces the risk of inadvertently clearing transactions that should be screened.