The convergence of AML and KYC functions is critical for effective sanctions compliance
By Elizabeth Callan Does your institution’s sanctions compliance program rely solely on customer screening and transaction filtering? If so, based on guidance from the U.S. Office of Foreign Assets Control (OFAC), your program may be vulnerable to breaches. The convergence of sanctions compliance, AML investigations, and customer due diligence can minimize those risks, however. OFAC … [Read more…]