PEP and Sanctions list Screening: The Complete Guide for AML Compliance
When American President Joe Biden announced sanctions on Russia for invading Ukraine, opinions were diverse. Some military advisers viewed sanctions as too tame for the current situation and others viewed the issue as not in line with what America needs and needs not to be involved in.
For those that viewed the American reaction tame, this is not the only time sanctions have been viewed as pointless or even counterproductive. And from a business perspective, sanction list screening is probably seen as just another unnecessary cost on a business already plagued by pandemic problems. As much as you want to avoid hefty anti-money laundering (AML) compliance fines, you also don’t want the hassle of alienating paying customers.
Read more on PEP and Sanction List Screening: https://www.idmerit.com/blog/pep-and-sanctions-list-screening-the-complete-guide-for-aml-compliance/