Risky customers pose a threat to businesses in many ways. Businesses determine the risk level of customers in the process of customer onboarding. High-risk customers must be checked periodically due to the threat of crime. Ongoing monitoring is the AML control process applied to control high-risk customers.
Ongoing monitoring is an important process for financial institutions. Sanctions, politically exposed persons (PEP), regulatory and enforcement lists are constantly changing. The people on this list are classified as high-risk customers for businesses. Businesses must periodically check their customers on these lists. Ongoing monitoring process protects businesses from risks such as incompatibility and loss of reputation. Sanction Scanner helps businesses automatically perform ongoing monitoring controls. You can protect your business from risks and loss of reputation.
Sanction Scanner enables companies to plan custom ongoing monitoring processes with its special features developed with artificial intelligence and machine learning. Businesses can choose the control time interval in accordance with their risk profiles, then all customer monitoring controls take performs automatically by Sanction Scanner. In addition, businesses can reduce false positives by choosing the sanctions and PEP lists they want to scan their customers.
It is very important to have up-to-date data when checking your customers. Sanction Scanner always provides global comprehensive and real-time data. In Sanction Scanner's database, there are global lists affecting most countries from published by the USA, the UK, and the United Nations, as well as various lists of local minor governments and regulators. Sanction Scanner enriches and configures the data. Businesses can generate reports that are easy to understand and GDPR compliant.
Businesses with high volume customers do not have to spend much time on customer monitoring processes. Sanction Scanner has a powerful API for your business. Sanction Scanner can be integrated with your own company within minutes. With the API, you can reduce your workload by performing all your AML control processes automatically and quickly.