Sanction Scanner Blog

Foreign Account Tax Compliance Act (FATCA)

FATCA is a law that requires American citizens to report to the IRS the details of their financial accounts outside of the United States. The law aims to prevent the US taxpayers' natural and legal persons from avoiding US-based taxation over their incomes and assets and establish a transparent, traceable tax system. ...

Prevent Money Laundering with Technology

Money Laundering is a process of conversion illegal sources to a legal source. Because they are legally acceptable before they can be used. Money laundering has become a major financial problem and crime today. Every year billions of dollars are illegally smuggled to international borders. ...

What is PSD2?

With the PSD1 (Payment Services Directive 1), which enter into force in 2009 for the first time in EU countries, the main aim of the European Union was to develop an efficient, fast, standardized, secure and competitive payment market among the union countries. With the revision made by the European Commission in 2015, PSD2 replaced PSD1. ...

What is GDPR?

It is the regulation that will protect all personal or professional data of the citizens of the European Union member countries and ensure that the rights on these data are taken and terminated from internet companies. Any organization using the personal data of individuals must comply with this regulation. ...

Artificial Intelligence and Anti-Money Laundering

Money laundering is the process of making large amounts of money generated by criminal activities as if it appears to have come from a legitimate source. Anti Money Laundering is a complex issue for financial institutions. AML compliance ...

What is RegTech?

RegTech is the platform that combines regulations with technology. These are technologies created to facilitate the process of compliance with increasingly complex regulations and to serve users in-process monitoring. Regtech provides...

What is Customer Due Diligence (CDD)?

Customer Due Diligence is a process which is collected information about the customer. The organization recognizes its customers and reduces the risks to which it will be exposed. The most important of these risks is money laundering and financing of terrorism...