Sanctions Screening
Overview
Sanctions screening is the process of checking customers, transactions, and counterparties against government and international sanctions lists. These lists are maintained by authorities such as OFAC (US), UN, EU, and HM Treasury (UK). Screening ensures financial institutions do not do business with prohibited individuals, companies, or jurisdictions.It is a cornerstone of AML/CFT compliance, as failures can result in multi-million-dollar penalties and reputational damage. Modern screening systems apply fuzzy matching, transliteration handling, and context scoring to reduce false positives while maintaining accuracy. Sanctions screening is applied at onboarding, during transactions, and as part of continuous monitoring. Banks, fintechs, and payment providers use it globally to safeguard against sanctions breaches and protect financial system integrity.
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