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Global Watchlist and Sanctions Screening – Mitigate Remediation Risk and Optimize Your Process

It is important for organizations to stay aware of global watchlists and sanctions databases, which include information from domestic and international databases that store data on people and organizations who are sanctioned, on a criminal list, or prohibited in certain industries, like finance or healthcare. Some examples of people or entities found on a watchlist or sanctions list are suspected drug traffickers, terrorists, or those convicted of fraudulent crimes. Companies, especially those in finance, can protect their reputation in hiring and acquiring customers by making watchlist and sanctions screening a priority by becoming familiar with Anti-Money Laundering (AML) & Know Your Customer (KYC) regulations, as well as responsibilities of the US PATRIOT Act, Foreign Corrupt Practices Act, and UK Bribery Act.

 

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Post By Ken Shafton (887 Posts)