Tag: OFAC

Between $800bn and $2tn is laundered globally each year, placing immense pressure on financial institutions to deploy robust transaction screening and monitoring systems. When...

Global sanctions inflation may be easing, but compliance teams should brace for ongoing challenges in 2025. LSEG’s latest Global Sanctions Index (GSI), based on data to March 2025, reveals that while the growth in the number of sanctioned individuals is slowing, broader risk trends—like regulatory divergence and complexity—are likely to persist or intensify.

Sanctions compliance is becoming harder to manage as geopolitical tensions rise and regulatory pressure grows. Financial institutions are struggling with legacy screening systems that...

Sanctions compliance has traditionally relied on name-based screening and public watchlists to flag potential threats, but as financial crime tactics evolve, this approach is no longer enough.

In today’s financial services landscape, records management has become a complex compliance issue that firms can no longer afford to overlook. According to Corlytics,...

The integration of Artificial Intelligence (AI) in financial crime compliance (FCC) operations is revolutionizing the banking sector. As of the Celent Dimensions Survey 2025,...

In the US, KYB is not just a regulatory requirement but a fundamental practice critical for maintaining the integrity of financial operations and fostering trust within the business ecosystem.

In recent years, the international community has intensified sanctions against Russia and Belarus, with the European Union, UK, US, and other G7 countries expanding multilateral sanctions.

As artificial intelligence (AI) continues to transform financial crime compliance, a new industry benchmark is emerging: compliance-first AI. In a landscape where balancing cutting-edge technology...

Sanctions are essential mechanisms employed by countries and international bodies to support national security, uphold human rights, and combat illegal activities such as terrorism, drug trafficking, and international crimes.