What is a Sanctions list?
To help businesses determine who is, and who is not, appropriate to do business with, governments and financial authorities issue sanctions lists.
Sanctions may be levelled against entire countries, individuals or entities. They may also be levelled against parties not directly engaged with crimes, but acting on behalf of others who are doing so.
Failing to screen for sanctions can lead to significant financial penalties and reputational cost. In extreme circumstances, financial institutions will have their licenses revoked.
Screening against sanctions lists represents a significant administrative challenge.
Constantly having to manually recheck, as is mandated by 5MLD, is not only incredibly time and resource intensive, it opens up the risk of human error. With this in mind, businesses employ AML screening and monitoring solutions to automate the process.
Why our Sanctions
coverage is better
Advance your sanctions screening with powerful, flexible “fuzzy matching” search capability that allows you to- optimize for the reduction of false-positives or coverage in-line with your risk-based approach.
Have the context to make the right AML risk decisions with comprehensive profiles enhanced with the most up to date Adverse Media and information on Politically Exposed Persons (PEPs).
We use the latest technologies in information retrieval and machine learning, so that you can have the confidence to screen against the cleanest AML data. Our data analysts perform continued ongoing audits on existing sanction lists.
”The ComplyAdvantage platform enables us to deliver a proper risk-based approach to screening – significantly reducing our false positive alerts and manual workload, freeing up time to help pinpoint the real risks.