Tag: OFAC

Safeguarding financial integrity through advanced AML compliance strategies

In today's financial landscape, AML transaction monitoring is key for protecting the integrity of financial institutions and the global financial system. This continuous surveillance of...

Navigating the complex landscape of global sanctions in 2024

Sanctions play a crucial role in international diplomacy and law enforcement, ensuring that countries and entities adhere to international norms and regulations. Keeping up to date with the ever-evolving sanctions regulations, including OFAC's 50% Rule and the EU's new directives, remains a top priority for companies worldwide.

US regulatory priorities in 2023 & the coming years

In recent years, United States financial regulators have established themselves as global leaders in enforcement. In 2022, they imposed $3bn in fines, nearly three...

Ensuring financial security: How firms comply with the OFAC SDN list

A recent post by Alessa has detailed what the Office of Foreign Assets Control Specially Designated Nationals and Blocked Persons List is.

Unlocking the secrets of enhanced due diligence in global finance

The world of global finance comes with its share of dangers. From the looming shadows of money laundering to the menace of terrorist financing, safeguarding transactions is not just prudent, it's mandatory. This brings Enhanced Due Diligence (EDD) into the limelight.

Regulatory penalties for global financial institutions see sharp decline in H1...

Regulatory fines slapped on global financial institutions saw a staggering 88% dip in H1 2023 compared to the same period last year. This significant decline was unveiled in a report from Fenergo, the top-tier provider of digital solutions in client lifecycle management (CLM).

Alessa issues new webinar on how financial institutions can improve OFAC...

Compliance with the Office of Foreign Assets Control (OFAC) sanctions is a major challenge for financial institutions, but how can they be certain they meet the necessary requirements.

Download the free AIFinTech100 report

FREE

Download the AIFinTech100 report for 2023 with details on each solution

120,000+ FinTech leaders get exclusive industry stories delivered every week