A White Paper from Kharon says that screening names and identifiers on the sanctions list alone is no longer sufficient to satisfy regulatory expectations. This paper highlights immediate actions for financial crime risk management in the wake of new sanctions designations. It looks at the importance of going beyond the sanctions list for screening and due diligence in order to identify exposure to customers that present material risk considerations for the control framework. In particular, it addresses the following risk, data and relationship types that can be surfaced within the first few days following each new designation.
If you would like to say thanks by making a small contribution, in case I need to upgrade or replace my computers and other paraphernalia, I have a page at https://www.buymeacoffee.com/KoIvM842y