HOW ANTI-MONEY LAUNDERING SANCTION SCREENING CAN PROVE TO BE ADVANTAGEOUS?
Go through a newspaper or a periodical, there are 80% chances that you will find a case related to Money laundering. No one can deny that financial fraudulent activities have been skyrocketing for a long time now. Since financial institutions like banks, insurance companies, etc deal with public money, a minor financial intervention can majorly hamper the situation. Technology has bestowed the tricksters with the new ideas, but it has also facilitated us with AML sanction screening software. WHAT DOES SANCTION SCREENING SOFTWARE DO? Sanction screening is meant to verify the people or organizations against a global watchlist and check the sanction lists to identify the risks involved in performing financial activities with them. Some softwares are intentionally designed to put a full stop to all fraudulent acts. SANCTION SCREENING SOFTWARE, IS THE NEED OF THE HOUR The surge in money laundering cases: Public and government suffer unbearable consequences because o...