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What are sanction lists?
Sanctions lists are a list of entities that are suspected to engage in financial crime. Various government agencies develop and maintain sanction lists.
Why are sanction lists important?
Sanction lists play a crucial role in prevention of Money Laundering and other kinds of financial crime by allowing Banks, Insurance firms, Payment services, Ecommerce Platforms etc to be able to identify suspects of financial crime before they are onboarded.
Which are the most important sanction lists?
Some of the most important lists include UN, OFAC, HMT, EU,UNSCR Sanction List, FBI, and UAE terrorist list.
How often are these sanction lists updated?
The sanction lists are updated at different frequencies. IntelleWings AML Suite updates the list multiple times a day and has the ability to update them in real time.
Who are part of such sanction lists?
The sanction lists can have both individuals as well as legal entities.
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