UK’s Sanctions Against Russia The UK government has imposed sanctions on 370 more Russian and Belarussian persons and organizations. Since the beginning of Russia's invasion of Ukraine, the UK has sanctioned over 1,000 of Russia's and Belarus' most prominent and valuable persons, businesses, and subsidiaries. According to the Foreign Office, Russian President Vladimir [...]
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 [...]
6th Anti Money Laundering Directive 6AMLD is among the latest sanctions imposed by the European Union on Turkey through the United Kingdom and the United States. The EU has recently implemented the 5AMLD. However, there are some uncertainties in 5AMLD. Therefore, the EU has decided to implement a new directive, the sixth money [...]
