Second Line of Defense
Comprises risk management and compliance functions to assist in developing and monitoring the first line of defence controls. Enables the identification of emerging risks in the daily operation of the business by providing AML and CFT compliance and oversight in the form of frameworks, policies, tools, and techniques to support risk and compliance reporting to […]
Sanctions Screening
Automated Screening Tool (AST): See Automated Screening Tools (ASTs)
Sanctions Lists
Official government lists of persons and entities subject to restrictive or comprehensive measures under international and domestic sanctions regimes. These lists are updated regularly to address the ever-changing sanctions landscape, and financial institutions and regulated license companies must check against this list to avoid conducting business with sanctioned individuals or entities.
Sanctions Compliance
Adhering to sanction rules by knowing who a company conducts business with and avoiding providing goods and services to anyone who is sanctioned.
Sanctions
Sanctions refer to penalties or restrictions imposed by governments, international bodies, or regulatory authorities on individuals, entities, or countries. These measures are levied to deter illegal activities, such as terrorism, human rights violations, or nuclear proliferation, and promote compliance with laws and regulations. They can include trade embargoes, removal of diplomatic ties, and financial restrictions. […]