Tag: Sanctions
The impact of global events on FinTech compliance and risk management
In the intricate world of FinTech, the geopolitical landscape plays a pivotal role in shaping compliance and regulatory frameworks. The aftermath of the Russian invasion of Ukraine in February 2022 has dramatically altered the sanctions regime, presenting unprecedented challenges for financial institutions (FIs). This seismic shift, marked by a surge in sanctions against various entities and individuals, underscores the necessity for FIs to adapt swiftly to remain compliant.
AML challenges and digital transformation: What 2024 holds for financial services
As we step into the second month of 2024, financial institutions (FIs) and regulated entities face a future that is anything but certain. Following a year marked by considerable upheaval, the question on everyone's mind is how to best prepare for what lies ahead.
The critical role of risk assessment in preventing financial crime
In the rapidly evolving financial services industry, the importance of effective risk assessment is often overlooked.
Global finance under threat: Tracing Hezbollah-related sanctions and illicit transactions
Unsurprisingly, terrorism-related events, especially those connected with recent happenings in the Middle East, have been a dominant topic in news headlines globally.
Moody’s Analytics Shares Key Steps for Enhanced PEPs Screening
In September 2023, the Financial Conduct Authority (FCA) provided fresh guidance about how to treat Politically Exposed Persons (PEPs). In response to this, businesses under regulation might find it beneficial to revisit their existing PEPs screening systems. This not only ensures alignment with the new directive but also makes certain that the screening process remains both effective and efficient.
Unravelling Canada’s new deemed ownership rule in sanctions compliance
RegTech firm Sigma Ratings recently provided a guide for companies to stay ahead of changing sanctions in the Canadian market.
US and UK place sanctions on Russian cybergang members
The US and the UK have imposed sanctions on seven members of the Russian hacking group Trickbot, according to Finextra.
Sanctions screener GSS lands £37m
Global Screening Services (GSS), a sanctions screening platform, has scored £37m in its first funding round.
Why sanctions screening is imperative
Since the onset of the Ukraine-Russia war, sanctions have been in the news on an almost daily basis. Why is the screening of sanctions so important?
How the war in Ukraine has changed the view on sanctions
Since the onset of the Russia-Ukraine war, the attention on sanctions – trade sanctions in-particular – has reached fever pitch. With more knowledge and focus on sanctions than ever before, what does this mean for their future?