Sanction and PEP lists are growing and changing continuously. There are thousands of news published in the world every day.
These data's dynamic structure makes it difficult and unsafe for companies to scan manual sanction, PEP, and adverse media data.
One of the basic requirements of the risk-based approach is AML Screening. In 2019, 58 AML fines were issued by regulators worldwide, and the total amount of the penalty was $ 8.14 billion. Audits and penalties by regulators are expected to increase further. As Sanction Scanner, we provide end-to-end solutions for the AML needs of organizations.
With our Sanction & PEP Screening Service, businesses can meet global and local AML obligations and be protected from regulatory penalties. With our global sanction, PEP, and adverse media data, you can apply the AML needs of businesses in every region of the world. We strengthen your business' AML compliance globally and locally by developing our solutions according to the Financial Action Task Force and European Union regulations.
The risk-based approach is the key to effective AML programs. Organizations can determine customer risk levels with our AML screening service when opening a customer account for an accurate risk assessment. Organizations can create an AML control program in accordance with their risk levels by scanning their new customers in comprehensive global sanction, PEP, and adverse media data. Scanning can be done in seconds, via web, API, or batch search.
FATF and the European Union are both agree that UBOs have ML / TF risk. Important information and obligations regarding the UBOs have been reported in the EU's Fourth Anti-Money Laundering Directive (MLD4), Fifth Anti-Money Laundering Directive (MLD5), and FATF Recommendations. Organizations can control the counterparty company's managers by performing UBO control in their business partnerships with Sanction Scanner.
AML data is dynamic and changes every day. It is impossible for organizations to control customers' risk levels manually. Organizations can automatically control changes in their customers' risk levels with our ongoing monitoring feature. With the Ongoing monitoring feature, you can automatically control your customers in real-time AML data at certain time intervals according to their risk levels.
Performing "Customer Due Diligence (CDD)" and "Know Your Customer (KYC)" procedures are some of the most crucial components of AML/CFT regulations. Obligated organizations under AML are required to verify their clients in order to avoid financial crime risks. With our AML Screening tool, you can perform CDD and KYC procedures in compliance with the obligations.
Organizations can perform AML checks in real-time sanction, PEP and adverse media data from 200+ countries.
With our global comprehensive AML data, we meet the regulatory requirements of all regions.
We help organizations reduce false-positives with our AI-supported customizable features.
Data is fundamental in AML screening tools. There are thousands of AML data in the world, and these are dynamic. For AML Screening to achieve its purpose, the scanning process must be performed on the real-time data. Sanction Scanner database consists of sanction, PEP, and adverse media data of more than two hundred countries. Sanction Scanner monitors all these data in real-time, and users can perform AML screening in real-data at any time. Our database is compatible with the regulators of all regions.
False positives are the main troubles for businesses. Our AML Screening Tool, with its advanced features, reduces false positives and reduces the workload of businesses. Businesses can customize in which country data the AML screening will be performed and prevent false alarms by selecting only the data of the countries they are obliged to. Besides, businesses can perform their queries with multiple search options either by name, ID, or passport number. All query results are shown under Enhanced Profile, supported by background information.
Manual AML scans are a massive waste of time for all businesses. That's why Sanction Scanner provides powerful API support for the AML screening tool. Businesses can integrate our AML Screening tool with their projects within minutes and automate all control processes. The API of the Sanction Scanner supports all features. Businesses can have all the features of the Sanction Scanner with no extra cost.
A quick customer onboarding process that complies with AML regulations is essential for both businesses and customers. Businesses can search for old and new customers in the AML & PEP data of Sanction Scanner from more than two hundred countries and perform a fast and secure customer onboarding process. This case study provides information on how the Sanction Scanner helps financial institutions ensure AML and KYC compliance while customer onboarding processes.
You can easily integrate and use Sanction Scanner's global and real-time sanction, PEP and adverse media screening tool with our transaction monitoring tool. Thus, you can speed up your workflow by meeting all your compliance needs in one place.