GDPR Data Privacy Considerations for Business Partner Screenings

Data Privacy

Regulated entities are required to conduct business partner screenings to remain compliant with Anti-Money Laundering (AML) and Counter Terrorist Financing (CFT) regulations. These screenings, which include PEP and Sanctions Lists screenings, involve personal data and hence GDPR data privacy regulations must be taken into consideration.
Let’s dive into GDPR and how it affects business partner screenings.