Sanctions screening helps banks prevent sanctions violations by screening customers and their transactions for sanctions list matches. This allows them to remain compliant with international sanctions, avoid penalties, and help protect the national security of the countries in which they […]
If you’ve found this article, the chances are you’re looking for: Politically exposed person (PEP) and sanctions screening software to improve your efficiency and accuracy. A quick comparison of the top available solutions. A clear list of features. This article […]
Over the last decade, the rapid rise of new digitally-based insurtech firms has disrupted an industry long dominated by a select group of incumbent providers.
Ambiguity around insurtech’s anti-money laundering (AML) and fraud obligations – alongside inconsistent enforcement – has added further complexity.
More than a year after the US Office of Foreign Assets Control (OFAC) designated Garantex for facilitating illicit activity, the Russian crypto exchange is enjoying higher profits than ever, according to research by the Wall Street Journal (WSJ). According to […]
To enhance the fight against sanctions violations, the US Financial Crimes Enforcement Network (FinCEN) has announced a Financial Trend Analysis (FTA) highlighting critical trends for Russian export controls sanctions evasion. The patterns came from Bank Secrecy Act (BSA) suspicious activity […]
Automated sanctions screening is a crucial process used by financial institutions (FIs) and organizations to identify individuals, entities, and transactions that may be subject to economic sanctions or restrictions imposed by governments or international bodies. It involves the use of […]
To encourage democratic elections in Venezuela, US officials are drafting a proposal to ease oil sanctions against the country. If the measures are approved, President Biden may amend or replace executive orders issued by the Trump Administration in response to […]
Specializing in international cash management solutions, financial services company Ebury partnered with ComplyAdvantage to build a fit-for-purpose transaction monitoring (TM) rule set that could keep pace with the company’s rapid growth. Ebury is fully regulated in 21 countries and offers […]
Following a recent review of the country’s sanctions screening programs, the Philippines Anti-Money Laundering Council (AMLC) issued guidance highlighting key gaps, deficiencies, and opportunities for regulated firms. Improving compliance will be a key priority for the country as it seeks removal from the Financial Action Task Force (FATF) grey list by January 2024.
On June 6, 2023, the Office of Foreign Assets Control (OFAC) designated three individuals and one entity in connection with the notorious Jalisco New Generation Cartel (CJNG). Two senior members of the criminal group were sanctioned for arms trafficking and […]
By tailoring screening to their risk-based approach and safely whitelisting false alerts at onboarding, Holvi has cut the time they spend remediating false positives in half.
2022 was a year defined and shaped by sanctions on an unprecedented scale. Following Russia’s invasion of Ukraine on February 24, the most comprehensive sanctions were imposed against a major power since the end of the Second World War, with the US, European Union (EU), and others coordinating their actions in new ways.
EN
FR