Sanctions Screening for Reversal of Inbound Debits
Sanction screening is done if :
- It is applicable for the customer.
- It is applicable for the Network and source for the transaction type ‘Incoming’.
| Sanction Response | System Action |
|---|---|
| Approve | Proceed with Collections reversal. If already liquidated, reverse the accounting entries. |
| Reject | The transaction remains in SC queue. Auto cancel/manual cancel is applicable. On cancellation reversal transaction gets canceled and original transaction status will not be changed. |
| Seize | Collections status is moved to ‘Seized’. Seizure
accounting is posted, if applicable. Since the accounting for
original transaction would have already processed, seizure
accounting will post the following entries:
|
Parent topic: Inbound Collections Reverse/Recall