Counterparty Screening
Overview
Counterparty screening is the process of verifying and monitoring the individuals, businesses, or entities an organization engages with to ensure they are not involved in illicit or high-risk activities. It is a core compliance control for preventing financial crime, safeguarding transactions, and meeting regulatory requirements. Screening typically involves checking counterparties against sanctions lists, politically exposed persons (PEP) databases, watchlists, and adverse media sources.This process is essential for banks, fintechs, investment firms, insurers, and other regulated entities to mitigate risks such as money laundering, terrorism financing, fraud, or reputational harm. Counterparty screening is not a one-time activity; it must be continuous, as regulatory lists and business relationships evolve. Automated solutions with real-time data and AI-driven risk scoring are widely used to strengthen compliance and improve efficiency.
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