Check if a person or organization is on the sanctions lists from the EU, UN or OFAC and financial connection is prohibited. To ensure that financial sanctions are complied with and enforced, financial institutions are required to consult the lists when conducting business.
The control is part of the know-your-customers process (KYC) and is mandatory, just like the requirement to check against PEP lists and whether a company has any beneficial owners. This affects all companies and businesses that fall under the requirements of the Money Laundering Act.
With Roaring's API, web service or monitoring services, you can ensure compliance, security in your business and avoid risk. Our service provides a complete sanctions list with data from FN, EU and OFAC.
- KYC, Know your customer
- Anti Money Laundering
- Automating customer processes