One of the industries at risk is the Payment industry. Financial institutions in the payment industry play a key role in combating financial crime.
Cryptocurrency does not exist in physical form and does not have a jointly recognized legal value; it can be exchanged peer - to - peer between two holders and conversion into current currency is not always admissible (currency closed in place of the bidirectional or convertible currency).
This case study provides information on how Sanction Scanner helps financial institutions ensure AML and KYC compliance while customer onboarding processes.
Especially in risky countries, consider its geopolitical situation, it is clear that it is used as a center for human trafficking. In this context, professionals who are working in the field of financial crimes and financial institutions have played important roles as well as security forces.
While financial crimes pose a threat to the whole world, AML regulations and laws are updated every day. Local and global AML regulators around the world aim to combat financial crimes.
The war between the various financial sectors and money laundering has led financial institutions to set up technologically intelligent weapons.
Many financial institutions are worried that digitization will greatly increase the risk of money laundering and fraud. In this article, the Sanction Scanner addresses the regulatory requirements for money laundering through Regulatory Roadmap.