Tag: Sanctions

As we step into the second month of 2024, financial institutions (FIs) and regulated entities face a future that is anything but certain. Following...

With the industry's focus on rapid growth and market domination, the critical role of risk assessment in preventing money laundering, terrorist financing, and other illegal activities is frequently sidelined. This negligence can lead to severe consequences, including regulatory fines and reputational damage, ultimately impeding a company's ability to compete.

Unsurprisingly, terrorism-related events, especially those connected with recent happenings in the Middle East, have been a dominant topic in news headlines globally.

In September 2023, the Financial Conduct Authority (FCA) provided fresh guidance about how to treat Politically Exposed Persons (PEPs). In response to this, businesses under regulation might find it beneficial to revisit their existing PEPs screening systems. This not only ensures alignment with the new directive but also makes certain that the screening process remains both effective and efficient.

RegTech firm Sigma Ratings recently provided a guide for companies to stay ahead of changing sanctions in the Canadian market.

The US and the UK have imposed sanctions on seven members of the Russian hacking group Trickbot, according to Finextra.

Global Screening Services, a sanctions screening platform, has scored £37m in its first funding round. 

Since the onset of the Ukraine-Russia war, sanctions have been in the news on an almost daily basis. Why is the screening of sanctions so important?

Since the onset of the Russia-Ukraine war, the attention on sanctions – trade sanctions in-particular – has reached fever pitch. With more knowledge and focus on sanctions than ever before, what does this mean for their future?

With the news of Russia’s invasion of Ukraine fresh in the memory, trade sanctions as a topic are back front-and-centre. How can companies today ensure they are staying compliant with the relevant sanctions?