Tag: Sanctions screening

In the rapidly evolving landscape of digital payments, the traditional methods of financial crime prevention are proving inadequate. NextGen Client Screening is revolutionizing this arena by integrating advanced automation and configurable systems, aiming to concentrate Financial Crime Compliance (FCC) teams on truly high-risk activities.

As of July 2024, credit and financial institutions within the EU are mandated to adhere to stringent reporting requirements for transactions associated with Russian ownership, as detailed by the European Commission.

The UK stands as a prime hub for venture capital within Europe. However, the private investment scene has recently seen a downturn, exacerbated by economic instability and inflatory pressures.

The Wolfsberg Group describes sanctions screening as a crucial method for detecting, preventing, and disrupting financial crimes, including sanctions risks.

Ensuring compliance with sanctions screening is pivotal in risk management for globally operating businesses.

In financial crime compliance, regulators have set expectations for financial institutions to conduct thorough assessments of name screening alerts.

Moody’s has launched a sanctioned securities screening capability aimed at enhancing investment decision-making workflows.

The financial services industry is undergoing a transformation driven by artificial intelligence (AI) technologies, particularly machine learning (ML). These advancements are significantly enhancing anti-money laundering (AML), counter-financing of terrorism (CFT), and sanctions screening as part of customer lifecycle management (CLM).

Global Screening Services (GSS), a forefront runner in the RegTech industry, has successfully completed its Series A2 funding round, securing over $47m (£37m).

Proliferation Financing (PF) is becoming an increasingly important aspect of the compliance landscape, akin to well-known areas like anti-money laundering (AML) and counter-terrorism financing (CTF). Recently, regulators, particularly in the UK, have begun implementing stricter measures to help businesses identify and mitigate PF risks.