What are the new US sanctions on Russia? The US administration launched a flurry of moves against Russia, penalizing people it claims support Russia's defense industrial base, designating Russian military units for human rights violations in Ukraine, and imposing a restriction on new Russian gold imports. The actions are the most recent in [...]

Why there are new sanctions on Russia? Sanctions were imposed because Russia recognized parts of Ukraine's Donetsk and Luhansk oblasts that were not controlled by the government on February 21, 2022. Also, since the unwarranted and illegal invasion of Ukraine on February 24, 2022, the EU has imposed several additional sanctions on Russia. [...]

Anti-Money Laundering Regulations in Turkiye Turkiye has an ongoing issue with money laundering, mainly as a result of its high susceptibility to narcotics trafficking. Turkiye has introduced several new laws to enhance its anti-money laundering (AML) framework. Both banks and non-bank financial entities are used for money laundering in Turkiye. Cross-border cash smuggling, [...]

How KYC and CDD are related? KYC and CDD are two terms that are often used together. KYC leads to CDD in the verification of consumer information. Previous KYC processes have evolved into CDD practices. Previously, the KYC procedure was ineffective in preventing illegal behavior. This resulted in the creation of software that [...]

2022 AML Anti Money Laundering Trends The Anti-Money Laundering industry has seen many highs in 2021, from novel technologies being invented to combat financial crime to Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) regulators taking actions like the FATF endorsing AI-enhanced transaction monitoring. However, it appears that these attempts have had little effect [...]

What is Dow Jones Sanction List? Dow Jones Risk & Compliance is a global provider of regulatory compliance and third-party risk management solutions. Working with customers all across the world, they've developed technologies and services to help businesses analyze third-party risks more quickly and confidently. Dow Jones Risk & Compliance's independently certified sanctions [...]

Anti-Money Laundering Guide for FinTechs AML for FinTechs is very important. FinTech uses innovative technologies to enhance and automate financial services. It attempts to compete with traditional financial services techniques since technology has advanced and old methods are no longer enough, hence the financial sector requires FinTech and its solutions. FinTech has advanced [...]

How to conduct a Sanction Scan? Sanctions are punishments that are imposed on persons or organizations who violate laws or norms. Governments or global organizations usually impose sanctions on other countries or persons. A sanction scan is used to avoid transactions with people who are barred from participating in specific transactions and activities. [...]

Anti-Money Laundering Guide for Exchange Houses Foreign currency exchange service providers should apply AML program for exchange houses. Foreign currency exchange (FX) is a common way for money launderers who aim to attack a variety of service weaknesses. The growing volume of FX businesses in the banking and commercial sectors, on Main Streets [...]