As businesses expand globally, regulations are becoming more complex, and financial crimes are on the rise. Sanction Scanner, an AI-driven compliance software, has the solution for these issues. Founded in 2019, Sanction Scanner’s goal is to provide cost-efficient anti-money laundering (AML) solutions that all-sized businesses can use.
What is Sanction Scanner?
Sanction Scanner is an anti-money laundering solutions provider that uses advanced AI technology to identify and monitor high-risk clients and transactions. With global AML solutions, Sanction Scanner is already serving in more than 35 countries worldwide. Sanction Scanner’s solutions help companies to:
- Know Their Clients: Sanction Scanner’s Know Your Customer (KYC) and Customer Due Diligence (CDD) modules help businesses identify and verify who their clients are and their risk level.
- Monitor Transactions: With Transaction Monitoring, Sanction Scanner helps businesses review every transaction for potential suspicious activities and report any that requires further investigation.
- Check Adverse Media Data: Adverse Media Screening is a regulatory requirement, and it helps companies identify if their clients are associated with any negative news, such as fraud or terrorism.
Why is it important?
Financial crime is a growing concern worldwide that has devastating effects on the economy, society and human rights. Financial criminals exploit the financial system for their gain, often through illegal activities such as drug trafficking, human trafficking, and terrorism funding. Financial crimes can result in significant losses for companies, both financially and reputationally. Sanction Scanner’s software enables companies to prevent financial crimes from happening.
How does it work?
Sanction Scanner’s software utilizes AI and Machine Learning algorithms, which use big data analysis to identify patterns of criminal behavior. The software uses advanced search engines to filter a vast amount of data from various sources, such as watchlists, adverse media, and PEP lists, to identify potential risks. The software also alerts businesses if there are any sudden changes in a client’s risk level, allowing them to take quick action.
Final thoughts
Sanction Scanner is a game-changer for businesses globally. Their AI-driven compliance software helps companies follow AML regulations, and prevent financial crimes from occurring. Their cost-efficient solutions make it accessible for all-sized businesses, from small enterprises to large corporations. If you’re looking for an anti-money laundering solution that works, look no further than Sanction Scanner.
Website: https://sanctionscanner.com/
Twitter: https://twitter.com/SanctionScanner
Facebook: https://www.facebook.com/sanctionscanner/
LinkedIn: https://www.linkedin.com/company/sanctionscanner/
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