Sanction Scanner Blog

Sanction Scanner is thrilled to announce that it has won the Finnovating Award for Top RegTech 2022!

The luxury goods sector has inherent qualities that raise the danger of money laundering and are helpful for various reasons. Items like jewelry, valuable stones, and exquisite art are easily transportable, making them ideal for illicit activity.

Dive into the debate of outsourcing vs in-house systems for Know Your Customer (KYC) compliance. Understand the advantages of outsourcing for compliance, efficiency, and cost-effectiveness, as well as the potential downsides of data privacy and lack of control in an in-house system.

Scammers can use a variety of schemes. Some of the most common types of online commercial fraud are Interception Fraud, Triangulation Fraud, Account Takeover Fraud, Friendly Fraud, Refund Fraud, and Card Testing Fraud.

OFAC and the Turkish Ministry of Treasury and Finance published an announcement of a coordinated plan to take action for disrupting terrorist financing on January 5, 2023.

Money laundering has always been a great way for crime organizations to acquire their illegal profits. When it comes to cartels, the name Sinaloa has a bad reputation. This notorious Mexican cartel has been active since the end of the 1980s and continues its illegal activities throughout the globe.

As we leave behind a year of extreme activity for compliance teams thanks to global events and new regulations, we will discuss a few trends that potentially shape the AML industry in the coming year.

In this article, we will explore the biggest fraud trends to watch for in 2023 and offer tips on how to stay safe.

The Wolfsberg Group, a group of 13 global banks that aims to develop frameworks and guidelines for the management of financial crime risks, particularly in relation to customer recognition, anti-money laundering and terrorism financing policies, published the Wolfsberg Principles for Using Artificial Intelligence and Machine Learning in Financial Crime.