Global AML Sanctions | The Perfect Merchant

Ensure to minimize the client-base risk with global AML Sanctions, PEP, and Adverse Media screening. The modern AML watchlists API offers streamlined KYC and AML checks for users and crypto wallets, offering expanded global coverage, continuous monitoring, real-time updates, and customizable risk thresholds. A comprehensive coverage encapsulates;

AML screening and monitoring against thousands of watchlists

To detect and prevent financial crime through identity verification

It starts when customers submit PII (Personal Identifiable Information), like their name, during account creation

The information is then compared against global AML sanctions lists, PEP, and Adverse Media lists for any matches

If there is a match, the engine flags the customer as a suspicious user and continuously monitors them throughout their account lifecycle

Real-time AML watchlist screening is an efficient way of identifying and triaging potential matches from a comprehensive sanctions list. With this type of screening, results from risk assessments can be easily integrated into onboarding, transaction monitoring, risk scoring, and regulatory reporting activities. All due diligence activities are recorded to provide auditors and regulators with an audit trail of the AML screenings.

Automated AML Watchlists with Easy Integration

A sophisticated watchlist screening allows you to onboard more users quickly with greater accuracy and fewer manual reviews.

Additionally, the continuous watchlist monitoring feature ensures that if any sanctions are imposed anywhere in the world, the entrepreneur can be confident that any changes to a user's status will be alerted straight away.

Automate your organization's AML watchlist screening process and stay ahead of regulatory changes with automated monitoring and real-time risk intelligence to:

Cut onboarding cycle times, lower false positives

Improve the quality of alert identification through a consolidated AML risk database that includes Sanctions, Politically Exposed Persons (PEPs), and Adverse Media sources

Connect with existing tools such as data feeds, case management systems, and CRMs for seamless integration via industry-leading API solutions

Determine a relevancy score tailored to the use cases so that any flagged user is truly verified

Automate workflows, custom configurations, and improve matching algorithms

Identity Verification Fusions with the Global AML Watchlist

Identity Verification is the process of verifying that an individual is who they say they are

Seamless Identity Integration:

Identity data collected from a customer is checked against independent data sources to confirm the legitimacy of their claimed identity
This verification, combined with AML watchlist screening, identifies potential high-risk individuals
It also applies to the know-your-business (KYB) processes for identifying Ultimate Beneficial Owners (UBOs) and verifying their identities while also screening them against AML watchlists data

ML Algorithms for Sophisticated Risk Screening

For organizations managing complex regulatory compliance and high transaction volumes, advanced Machine Learning (ML) technology is invaluable. Using powerful ML algorithms and similarity matching, this sophisticated solution can flag suspicious individuals and entities in real-time, helping to reduce false positives while maintaining accuracy. This high-performance technology is critical to staying on top of ever-changing watchlists and transactional rule scenarios.

Automated AML screening simplifies know-your-customer (KYC) and know-your-business (KYB) compliance processes with powerful analytics, similarity-matching technology, and robotics for alert and case management
Intelligent similarity matching provides accurate detection of potential name matches such as misspellings, nicknames, and other name phenomena
Advanced analytics further fine-tune rules and models to identify unusual activity and raise higher-quality alerts
Network analytics can uncover connected entities and hidden networks, trace unexpected money flows, and understand the full trade context
Robotics automates alert routing and closing to reduce investigator workloads so that the risk team can focus on important cases that require manual inspection

International sanctions compliance requires regulated financial and non-financial institutions to be aware of the over 250 watchlists established in 195+ countries. These watchlists are constantly changing and updating formats, languages, and data structures to help protect against money laundering, terrorist financing, and other risks.

To be compliant with anti-money laundering (AML) and combatting the financing of terrorism (CFT) sanctions, organizations must adhere to multiple watchlist requirements from bodies such as the European Union (EU), Office of Foreign Asset Control (OFAC), United Nations Security Council (UNSC), Her Majesty's Treasury (HMT) and many more. These Consolidated Lists are continually updated and require firms and financial entities to use effective sanctions-screening solutions in order to remain compliant.

Latest Blogs

12
May

What Is Adverse Media (Or Negative News) Screening in AML?

At its core, adverse media refers to any unfavorable information that could adversely affect the evaluation of a subject's integrity or creditworthiness. Adverse media screening spans a range of content from news articles and blog posts to legal filings and…

03
May

What is Know Your Business (KYB)? Difference Between KYC and KYB

As the “global village” expands, verifying business identities through the KYB process has become almost inevitable for each enterprise engaging in cross-border operations. KYB is all about understanding the companies you do business with. In this piece, get to…

28
Apr

What Is AML Customer Screening And Why Is It So Important?

Customer screening stands as the first port of call in the global fight against money laundering, and it cannot be overlooked. Let’s find out why. An effective customer screening process – 1. Kick-starts the AML compliance cycle for financial institutions.…

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Powerful Global AML SanctionsWatchlist for Businesses