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.
AML Compliance, The European regulation for companies, and users from illegal transactions protective is Money Laundering Directive (6AMLD), which was adopted in the 2015th It is the main legal instrument to prevent the use of the Union's financial system for the purpose of money laundering and terrorist financing.
The Foreign Account Tax Compliance Act, also known as FATCA, is a federal law in the US that demands all American citizens report to the IRS details of any financial accounts if they have any accounts outside ...
The Bank Secrecy Act (BSA) is the United States of America’s most crucial anti-money laundering regulation.
Sanction check is to take measures to prevent transactions with persons prohibited from certain transactions and activities.
Financial institutions have certain compliance obligations to which they are responsible. These obligations are regulated by financial regulators. Financial institutions must comply with national and international regulations to ensure AML compliance...
Sanctions lists were created by governments and international authorities to combat persons engaged in illegal activities. Sanction lists include sanctioned people or organizations.