Russia and Belarus related Worldwide Sanctions The European Commission welcomes Member States' agreement today to impose additional targeted measures due to Russia’a invasion in Ukraine and Belarus's role in this aggression. The new measures, in particular, impose restrictive measures on 160 persons and alter Regulation (EC) 765/2006 on restrictive measures in light of [...]
Which countries are banned from SWIFT and why? What does SWIFT refers to? The SWIFT system, which stands for the Society for Worldwide Interbank Financial Telecommunication, is a secure platform that allows financial institutions to share information about worldwide monetary operations such as money transfers. While SWIFT does not actually transport money, it [...]
Belarus Sanctions Regime in EU Since October 2020, the EU has gradually tightened sanctions against Belarus. The sanctions were enacted in reaction to Belarus's rigged presidential elections in August 2020. The sanctions regime on Belarus presently designates 183 persons and 26 companies, including major officials in the political leadership and administration, high-level members [...]
Russian Sanctions Regime in USA by OFAC The Ukraine/Russia sanctions program implemented by the Office of Foreign Assets Control (OFAC) began on March 6, 2014, when the President of the USA declared a national emergency in Executive Order (EO) 13660 against the threat posed by the actions and policies of certain individuals, who [...]
Russian Sanctions Regime in EU What Measures has the EU Taken Against Russia in the last decade? Since 2014, the EU has progressively placed sanctions on Russia in reaction to the unlawful annexation of Crimea. In March 2015, EU leaders resolved to tie the current economic sanctions system to full implementation of the [...]
Economic Sanctions against Russia US economic sanctions against Russia: On 21st February 2022 Presidency of the USA declared and issued Executive Order(EO) for banning any financial transactions in relation with the Luhansk and Donetsk Regions. Following days, USA issued economic and financial restrictions and prohibitions towards Russia due to military attacks on Ukraine: [...]
What is AML Transaction Monitoring? Banks and other financial institutions can use AML transaction monitoring software to monitor client transactions for risk on a daily or real-time basis. The software can provide financial institutions with a ‘whole picture’ analysis of a customer's profile, risk levels, and predicted future activity, as well as generate [...]
What is Adverse Media Check? A media and press search of a prospective customer’s public profile using worldwide electronic media sources is known as a negative news check of adverse media AML. This can include both professional and personal activities, and it can provide you with a unique perspective on a customer’s image [...]
What is AML Name Screening? Name screening in AML is one of the strategies used by banks and fintechs during the initial KYC onboarding process to assess the risk of the client. AML Name screening is also known as sanctions and PEP screening, also includes the Adverse Media Screening process. The AML name [...]
What is PEP and Sanctions Screening? PEP and Sanction Screening is part of an AML Compliance process for identification and verification of Politically Exposed Person (PEP) and blacklisted individuals in public and private sanction lists; which is conducted by banks, fintechs and other financial institutions as well as big corporates. Their verification is [...]
