What is Sanctions List?

Question

Accepted Answer

A Sanctions List is an official register maintained by governmental bodies or international organizations, such as the U.S. Office of Foreign Assets Control (OFAC) or the United Nations Security Council, that identifies individuals, entities, vessels, and countries subject to economic or legal restrictions, making screening against these lists a mandatory component of Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance programs globally.

Sanctions List

What is Sanctions List?

What is the role of a Sanctions List in an organization's Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance program?

What are the main challenges in managing and screening against Sanctions Lists, and how are compliance teams addressing them?

Which are the most influential global Sanctions Lists, and what is the extent of their jurisdictional reach?

How does a Sanctions List differ from an Adverse Media check, and why are both essential for comprehensive risk management?

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