Anti-money laundering (AML) compliance is not a simple matter. Your company has to practiceKnow Your Customer (KYC) andcustomer due diligence (CDD)to meet governmental regulatory measures. In addition, you are responsible for screening international sanctions lists to avoid doing business with known...
What seems like a straightforward task is quite time-consuming. Firms create internal systems or work with third-party vendors to screen large volumes of transactions against encoded rules that may include availablesanction listsor other official lists. These screening environments, which form the found...
With a sanction search tool, organisations can check against publications across the region – e.g. the United Kingdom or the European Union – to find PEPs, high-risk individuals and other sanctioned persons who are listed. Depending on the platform you use for your sanctions screening, this...
If a match is found, a firm should implement an appropriate compliance response, including suspending the transaction, freezing assets, and notifying the appropriate authority. Sanctions compliance challenges: Trade sanctions present unique compliance challenges. Firms must ensure that their screening ...
Screen Customers and Transactions:Implement a robust screening processto check your customers, clients, and business partners against the OFAC sanctions lists. This screening process should cover new and existing customers and be performed regularly to identify potential matches.Virtual assetproviders are ...
Sanction Scanner offers a powerful tool to simplify compliance with the SDN list and other global sanctions. Our platform provides real-time, accurate screening and monitoring, ensuring you can efficiently identify risks and maintain compliance. ...
The umbrella term of pre-employment screening is made up of countless different types of background checks, and understandably it can be confusing trying to decide which checks you need for a new starter. As experts in pre-employment screening, it’s our job to help set you on the right...
(OCT 7) Amazon MGM Studios’ THE FIRE INSIDE brought the heat ahead of CultureCon™, one of the largest conferences shaped by and for Black creatives, community and culture, with Fire Up Change: Black Women Lead the Way – a Special CultureCon™ Week Screening Event that featured a pos...
Perform background checks by screening customers against sanction lists, politically exposed persons (PEPs) lists, and other regulatory databases to ensure legitimacy. 2. Understanding the Purpose and Nature of the Customer’s Relationship Document the customer’s business type and their specific financia...
target entire countries, specific individuals, as well as any organisation that is owned, controlled by or acting on behalf of a country. They are also able to sanction groups, entities, and terrorist and narcotics-trafficking organisations that may not be recognisably tied to a certain country...