What is PEP and Sanctions Screening?

By |2022-02-21T12:02:56+03:00September 14th, 2021|

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

By |2021-11-04T16:31:05+03:00September 7th, 2021|

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 [...]

Anti-Money Laundering ACT 2020

By |2021-11-04T16:27:57+03:00September 6th, 2021|

Anti-Money Laundering ACT 2020 Anti-money laundering act covers a number of laws, regulations, and procedures to prevent criminals' illegal income and terrorist financing from being disguised as legitimate income. In the recent past, the national legislation on anti-money laundering and the financing of terrorism, aimed at preventing the introduction of revenues, which are [...]

Cloud-based Anti-Money Laundering (AML) Compliance

By |2021-12-05T23:07:48+03:00September 5th, 2021|

Cloud-based Anti-Money Laundering (AML) Compliance The ways financial institutions employ to identify and prevent financial crime are evolving as well. Many organizations use AML cloud computing technologies to develop anti-money laundering solutions and for good reason. The ability to handle AML on the cloud provides businesses with a plenty of new tools in [...]

FATF Blacklists and Greylists

By |2021-12-05T23:02:47+03:00September 5th, 2021|

FATF Blacklists and Greylists FATF blacklist consequences concern many countries. The Financial Action Task Force was established in 1989 to establish international standards in the fight against money laundering, financing of terrorism, and the financing of the proliferation of weapons of mass destruction, and to take legal and institutional measures in line with [...]

Sanctions Regime in Turkey

By |2021-11-04T16:24:26+03:00September 5th, 2021|

Sanctions Regime in Turkey Money laundering is one of the most talked-about and on-agenda topics in Turkey, especially in recent years. With the globalization of the world economy, money laundering has become a serious problem that threatens not only Turkey but also all the countries aorund the world. The idea underlying the legal [...]

Countering Terrorism Financing (CTF)

By |2021-12-05T22:56:07+03:00August 5th, 2021|

Countering Terrorism Financing (CTF) The practice of making illegal funds appear to have been earned legitimately is known as money laundering. According to the researches, laundered money from illicit financial activities is estimated between 2-4 billion USD annually, according to the IMF and World Bank. Injecting unlawfully obtained cash into the flow of [...]

High Intensity Financial Crime Area (HIFCA)

By |2021-09-26T22:30:12+03:00May 7th, 2021|

High Intensity Financial Crime Area (HIFCA) High Intensity Financial Crime Areas (HIFCA) or High Risk Money Laundering and Related Financial Crime Areas are defined in the United States as the locations that specially pose a high risk of money laundering or financial crime. As the High Intensity Financial Crime Area (HIFCA) programs aim to support [...]

The Central Bank of Bahrain (CBB)

By |2021-09-26T22:21:59+03:00May 5th, 2021|

The Central Bank of Bahrain (CBB) The Central Bank of Bahrain (CBB) was published by the 2006 CBB and Financial Institutions Law on September 6, 2006 and serves as a public corporate entity. The main responsibilities of the CBB are ensuring the financial and monetary stability of the Kingdom of Bahrain.The predecessor of the Central [...]

2020 AML Fines and Penalties

By |2021-09-26T22:13:00+03:00May 3rd, 2021|

2020 AML Fines and Penalties 2020 AML fines and penalties generally includes policies, laws and regulations to prevent financial crimes. AML is a worldwide term for preventing money laundering. There are global and local regulators established in the world to prevent financial crimes, besides each country has a different 2020 AML fines and penalties. Organizations [...]

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