What every financial institution needs to know about sanctions screening
Growing complexity, increasing regulatory rigor and the inconsistencies between governments are raising the bar for sanctions compliance.The Wolfsberg Group, an association of 13 banks, recently offered guidance with a framework of 10 core principles financial institutions should follow to ensure their sanctions screening and AML risk management processes are effective.
Our Point-of-View paper looks into the Wolfsberg Group’s full list of guidelines, and offers advice on how financial institutions can best meet them.
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