The Role of PEP Screening in AML Compliance
Adherence to global sanctions requirements is a fundamental component of robust Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) frameworks. According to the World Bank, corruption costs the global economy an estimated $3.6 trillion annually, while United Nations reports show that up to 5% of global GDP...
Why AML Compliance Is More Challenging for Small Businesses – and How FinchSCAN Can Help
If you think AML screening is only for big institutions, think again. Small businesses are just as vulnerable and often an easier target for financial crime. In the UAE, Small and Medium-sized Enterprises (SMEs) make up 94% of all companies, contributing significantly to the nation’s GDP...
Why Enhanced Due Diligence (EDD) is Critical and How to Choose the Right AML Solution
Designated non-financial businesses and professions (DNFBPs) in the UAE play a critical role in safeguarding the integrity of the financial ecosystem. Although they are not classified as financial institutions, they face high exposure to money laundering...
AML/CFT Compliance Requirements for Auditors and Accountants in the UAE
Auditors and accountants in the UAE play a critical role in maintaining financial transparency, but this also makes them vulnerable to money laundering (ML) and terrorism financing (TF) risks. Given the nature of their work, compliance with AML/CFT obligations...
Sanctions Screening vs. PEP Screening: What is the Difference?
In the realm of AML (Anti-Money Laundering), compliance for sanctions screening and PEP (Politically Exposed Person) screening are critical steps in the operational procedure, intended to protect financial institutions and businesses...
Webinar on The AML Compliance Challenges for DNFBPs
Designated Non-Financial Businesses and Professions (DNFBPs) are recently regulated and struggle with understanding evolving AML compliance requirements, mitigating risks and finding a cost-effective AML compliance solution for their...
FATF’s February 2025 Plenary:
Key Updates for the DNFBPs
The financial action task force (FATF) has released new updates following its February 2025 Plenary, including changes to the grey list. Here is what designated non-financial businesses and professions (DNFBPs) need to know:
Added to the Grey List: The FATF has placed Lao People’s Democratic Republic...
Adverse Media Screening: A Critical Component of AML Compliance
With the increasing risk of financial crime and money laundering, businesses must be proactive in identifying potential threats associated with their customers or prospects. Thorough adverse media screening is an essential tool for detecting negative information for know your customer...
Key Benefits of FinchSCAN’s AML Screening Portal
FinchSCAN is a revolutionary AML screening platform, designed to simplify name screening and mitigate potential risks for businesses. As AML compliance becomes increasingly essential in today’s business landscapes, FinchSCAN helps your organization to swiftly detect potential threats and maintain regulatory compliance...
Why Transliteration in AML Name Screening is Crucial
Transliteration is the process of converting text from one writing system into another while preserving its pronunciation. Unlike translation, which conveys meaning, transliteration focuses on how a word or name sounds, ensuring it can be accurately represented across different languages...