Introduction

The blacklisted accounts feature enables organizations to maintain a list of accounts that should be blocked from receiving payments for compliance, security, or business policy reasons. The LYNKS Platform automatically enforces these restrictions across all counterparty creation and payment initiation processes.

Prerequisites

To work with blacklisted accounts, users need specific permissions:

Permission	Purpose
View blacklisted accounts	View the blacklisted accounts list and details
Manage blacklisted accounts	Add, edit, or remove blacklisted accounts
Override blacklist restrictions	Temporarily bypass blacklist enforcement (restricted permission)

Compliance requirement

Blacklist management typically requires elevated permissions and may be restricted to compliance officers or administrators within your organization. Contact your system administrator to request access.

Blacklisted accounts overview

Blacklisted accounts represent bank accounts that your organization has flagged to prevent payment creation. When an account is blacklisted, the platform automatically blocks any attempt to create counterparties or initiate payments using the same IBAN and BIC combination.

Key characteristics:

Account identification: Based on IBAN and BIC combination
Automatic enforcement: System-wide prevention of counterparty creation and payment initiation
Reason tracking: Comments and notes documenting why accounts were blacklisted
Centralized management: Single location for viewing and managing all blocked accounts
Audit trail: Complete history of blacklist additions and removals

Typical use cases:

Fraud prevention: Blocking accounts associated with fraudulent activity
Sanctions compliance: Enforcing restrictions on sanctioned entities
Business policy enforcement: Preventing payments to specific vendors or accounts
Risk management: Blocking high-risk accounts identified through internal reviews
Regulatory compliance: Meeting requirements for blocked account lists

Accessing blacklisted accounts

To access the blacklisted accounts section:

Navigate to Counterparties in the main menu
Select Blacklisted accounts from the submenu or counterparties section
The blacklisted accounts list displays all currently blocked accounts

The interface provides comprehensive information about each blacklisted account, including account numbers, blacklisting reasons, and relevant notes.

Viewing blacklisted accounts

The blacklisted accounts list provides a comprehensive view of all blocked accounts in your organization.

Information displayed:

IBAN: International Bank Account Number of the blacklisted account
BIC/SWIFT: Bank Identifier Code associated with the account
Account holder name: Name associated with the account (if available)
Reason/Comment: Explanation for why the account was blacklisted
Added date: When the account was added to the blacklist
Added by: User who added the account to the blacklist
Notes: Additional remarks or documentation about the blacklisting

Searching and filtering:

Use the search functionality to find specific blacklisted accounts:

Search by IBAN or partial IBAN
Search by BIC/SWIFT code
Search by account holder name
Filter by date added
Sort by any column for easier review

Adding accounts to the blacklist

To add an account to the blacklist:

Click (+) in the bottom right corner of the blacklisted accounts screen
Select Add blacklisted account from the options
The "New blacklisted account" form opens

Enter required information:

IBAN (required): Enter the International Bank Account Number to blacklist
- System validates IBAN format
- System checks if IBAN is already blacklisted
BIC/SWIFT (required): Enter the Bank Identifier Code
- System validates BIC format
Account holder name (optional): Enter the name associated with the account
Reason/Comment (required): Provide clear explanation for blacklisting
- Document specific incident, policy, or regulation
- Include reference numbers or case IDs if applicable
Notes (optional): Add additional context or documentation

Finalizing addition:

Review all entered information for accuracy
Click Save to add the account to the blacklist
The account is immediately added and enforcement begins system-wide
Confirmation message displays: "Account successfully added to blacklist"

Impact of blacklisting

Once an account is blacklisted, the platform immediately prevents:

Creation of new counterparties with matching IBAN and BIC

Initiation of payments to the blacklisted account

Any existing counterparties with matching details are flagged for review

Editing blacklist details

To update information about a blacklisted account:

Navigate to the blacklisted accounts list
Locate the account you wish to modify
Click on the account row to open details
Click Edit in the top right corner
Modify the reason, comments, or notes as needed
Click Save to apply changes

Note: You cannot modify the IBAN and BIC combination of an existing blacklisted entry. To change account details, remove the existing entry and create a new one.

Removing accounts from the blacklist

To remove an account from the blacklist:

Navigate to the blacklisted accounts list
Locate the account you wish to remove
Click on the account row to open details
Click Delete or Remove in the top right corner
Confirm the removal in the confirmation dialog
- System displays warning about removal impact
- Requires confirmation of reason for removal
Click Confirm to complete removal

Post-removal effects:

The IBAN and BIC combination is no longer blocked
Users can create counterparties with these account details
Payments to accounts matching this IBAN and BIC can be initiated
Removal is logged in the audit trail with timestamp and user information

Removal authorization

Removing accounts from the blacklist may require additional approval depending on your organization's configuration and the reason for the original blacklisting. Consult your compliance team before removing accounts blacklisted for regulatory or fraud reasons.

Blacklist enforcement mechanisms

The LYNKS Platform enforces blacklist restrictions across multiple touchpoints in the payment workflow:

Counterparty creation prevention

When creating a new counterparty:

User enters IBAN and BIC information
System checks against blacklisted accounts database
If match found:
- Creation is blocked
- Error message displays: "This account is blacklisted and cannot be added as a counterparty"
- Reason for blacklisting is shown to authorized users
- User cannot proceed with counterparty creation

Bulk import validation

During bulk counterparty imports:

System validates each IBAN and BIC combination in the file
Rows with blacklisted accounts are flagged
Validation report shows:
- Number of blacklisted accounts detected
- Specific rows containing blacklisted accounts
- Reasons for blacklisting
User must remove blacklisted accounts before completing import

Payment initiation blocking

When initiating payments:

System validates counterparty account details
If counterparty matches blacklisted account:
- Payment creation is blocked
- Error message explains blacklist restriction
- Payment cannot proceed regardless of user permissions
Even API-initiated payments are blocked at validation stage

Existing counterparty monitoring

For counterparties created before blacklisting:

System flags existing counterparties with newly blacklisted account details
Flagged counterparties display warning indicators
New payments to flagged counterparties are blocked
Existing counterparties may be automatically deactivated (configurable)

Best practices

Maintain clear documentation:

Always provide detailed reasons when adding accounts to the blacklist
Include reference numbers, case IDs, or incident reports
Document the source of the blacklisting requirement (internal policy, regulatory requirement, fraud investigation)
Update notes as situations evolve or investigations conclude

Regular review and maintenance:

Review blacklisted accounts quarterly to ensure they remain relevant
Remove accounts that no longer require blocking
Update reasons and notes with new information
Archive or document removed blacklist entries for compliance records

Coordinate with compliance and legal:

Involve compliance teams before adding accounts for regulatory reasons
Obtain legal approval for accounts blacklisted due to ongoing investigations
Document approval chain for audit purposes
Ensure blacklisting aligns with applicable regulations and policies

Use appropriate permission controls:

Limit blacklist management permissions to authorized personnel
Implement approval workflows for sensitive blacklist additions
Monitor blacklist changes through audit logs
Review permission assignments regularly

Implement consistent processes:

Define clear criteria for when accounts should be blacklisted
Establish approval processes for additions and removals
Create standardized reason codes or categories
Document procedures for emergency blacklisting

Monitor enforcement:

Review blocked counterparty creation attempts
Investigate patterns in blacklist violations
Track removal requests and reasons
Report on blacklist effectiveness to stakeholders

Handle exceptions carefully:

Establish clear processes for override requests
Require multiple approvals for blacklist overrides
Document all override instances thoroughly
Review overrides periodically for policy compliance

Communicate with stakeholders:

Notify relevant teams when critical accounts are blacklisted
Provide guidance on alternative payment arrangements when needed
Keep compliance officers informed of blacklist changes
Train users on blacklist policies and procedures

Blacklisted accounts