Sanctions and AML Insights

Small business gatekeepers, including lawyers, accountants, and financial advisors, play a vital role in preventing money laundering but often face resource constraints. To ensure compliance without excessive costs, they must understand their regulatory obligations, implement automated AML screening solutions, and continuously monitor clients and transactions for suspicious activity. Establishing clear internal policies and training employees on AML risks further strengthens compliance efforts. By leveraging affordable tools like sanctions.io and staying informed on evolving regulations, small businesses can effectively meet AML requirements, mitigate financial crime risks, and protect their reputation.

Sanctions screening is essential in aviation to avoid legal, financial, and reputational risks. With regulations enforced by bodies like OFAC, the EU, and OFSI, businesses must stay updated, implement real-time automated screening, and conduct thorough Know Your Customer (KYC) and due diligence checks. Continuous transaction monitoring, employee training, and a structured compliance framework are crucial to mitigating risks. Industry collaboration with regulatory bodies and associations like IATA further strengthens compliance efforts. By leveraging automation and best practices, aviation businesses can ensure regulatory adherence and operational security while avoiding costly penalties.

The Financial Action Task Force, or FATF, publishes a list of high-risk jurisdictions to enhance anti-money laundering policies and procedures. All regulated businesses should be familiar with these jurisdictions, as working with them can affect your AML screening process. Failure to comply can lead to strict sanctions, so keep reading to learn more about what this means for your business.

The EU just rolled out its 16th sanctions package against Russia, targeting sectors from aluminum and banking to energy and even video game consoles. With enforcement ramping up, businesses must stay ahead of tightening restrictions and evolving evasion tactics. This article breaks down the industries most affected, how Russia may attempt to work around the measures, and the key steps companies should take to stay compliant.

A FATF greylisting triggers a wave of compliance challenges for businesses. AML teams must act quickly—tightening risk assessments, enhancing due diligence, and ramping up monitoring to prevent exposure to financial crime. Curious about the steps your team should take in this situation? Dive into the full article for the key actions to protect your organization.

Casinos face increasing pressure to combat money laundering. This post explores essential AML measures, including the crucial risk-based approach (RBA), robust Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) for high-risk players like PEPs. Learn how Source of Wealth (SOW) checks, cryptocurrency regulations, and AI-powered transaction monitoring are shaping the future of casino AML compliance.

Transparency International just published annual its Corruption Perceptions Index. It's a time of year when this ubiquitous crime is in sharp focus. As an anti-money laundering screening service, this got the sanctions.io team thinking. What is the connection between corruption and money laundering? And what are some notorious corruption cases with billions laundered?

Navigating Belgium's complex AML regulations is vital for financial institutions and other businesses. This post provides a comprehensive overview of the essential legal framework, key regulatory bodies like the FSMA and CTIF-CFI, and crucial obligations including CDD, STR, and risk-based approaches. Learn how to stay compliant, avoid hefty penalties, and safeguard your business.

De Volksbank, a leading Dutch financial institution, has been slapped with a €20 million fine by the Dutch Central Bank (DNB) for serious lapses in its risk management and anti-money laundering (AML) controls. This hefty penalty underscores the critical need for robust AML compliance frameworks in the financial sector. In this report from sanctions.io, we analyze the case and explore the crucial lessons from this significant AML compliance failure.