Advanced Technology for Compliance
The sanctions landscape is becoming more complex and challenging by the day. Regulatory expectations are increasing and already we have seen the imposition of hefty fines for those that fall short.
In this environment, financial institutions need to be proactive about ensuring sanctions compliance. They must adopt a culture of compliance through policy implementation. That culture cannot be established overnight; it requires ongoing and committed effort from the chief executive and top-level management, setting the tone that non-compliance will not be tolerated.
Fortunately, today’s technology is capable of bringing together and analysing disparate data to find out what someone has attempted to conceal.