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.
Financial crimes and the financing of terrorism have become an important global problem. With the development of Technology, criminals commit crimes with new methods. Terrorist groups are already using computer technology to facilitate traditional forms of activity with the development of Technology.
Sanction Screening Service is software that helps companies to detect financial crimes and comply with AML / KYC regulations. There are thousands of sanctioned people, organizations and countries in the world.
Sanction check is to take measures to prevent transactions with persons prohibited from certain transactions and activities. Sanction check or sanction screening is required for companies to meet KYC and CDD obligations.