Global Sanctions Lists
Overview
Global sanctions lists enumerate persons, entities, vessels, and sectors subject to economic or trade restrictions by authorities such as the UN, EU, OFAC, HMT, and national regulators. Screening customer and counterparty data against these lists is a central AML and CFT requirement. Effective programs use fuzzy and phonetic matching, transliteration handling, and context filters to reduce noise while preventing misses.Lists must be refreshed frequently and applied at onboarding, periodic KYC refresh, and in real time for transactions. Institutions should document risk-based tuning, manage delistings or updates promptly, and record rationale for overrides. Strong governance includes model validation, audit trails, and quality metrics. Failing to detect sanctioned exposure can lead to severe penalties, de-risking by partners, and reputational damage.
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