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Pascal Aerens: The Evolution of Sanctions Compliance

Pascal Aerens, Head of Product Strategy at FircoSoft, discusses how Sanctions Compliance has evolved into a professional business. Sanctions compliance is a professional business now. In the early days, some 15 years ago, like any new domain, it was initially populated by people with a lot of goodwill, but not enough professionalism. Now that the […]
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Accuity Insights

Iran Sanctions: What Happens When Iranian Banks Reconnect to SWIFT?

Iranian banks have been disconnected from the global platform that enables banks to settle cross border transactions since 2012. This platform, SWIFT (the Society for Worldwide Interbank Financial Telecommunications), is under the jurisdiction of the EU and it was because of sanctions that Iran entities were disconnected. When EU sanctions against Iran are lifted, it […]
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Accuity Insights

Iran Sanctions: The AML Policy Implications of the Deal

There are going to be some interesting grey areas for financial institutions regarding Iranian sanctions in the near future. The differences in scope between the regulators (in particular the US regulators compared to all the other regulators) could present certain dilemmas for banks – such as whether or not to trade with an Iranian related […]
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Accuity Insights

Iran Sanctions: Differences in Scope Between the Regulators

We know that many of the sanctions against Iran are being lifted. We also know that not all regulators are lifting the same sanctions. The EU, the UK’s HMT and the UN are lifting a much broader scope of sanctions than the US’s OFAC (the Office of Foreign Assets Control) is going to lift. This […]
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Accuity Insights

Iran Sanctions: Which Sanctions Will Be Lifted?

Sanctions against Iran are to be lifted. Not all of them, but most of them, according to the negotiations so far. At this point in time, nobody knows exactly what changes will take place and won’t do until the sanctions are actually lifted. Who will decide? The definitive list will come from the regulators, including […]
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Accuity Insights

Iran Sanctions: Why Banks Still Need a Comprehensive Sanctions Programme

When world leaders struck a nuclear deal with Iran back in July, it really hit the headlines. And quite rightly so. Under the deal, Iran agreed to limit its nuclear activity and in return, international sanctions would be lifted. Opinion has been divided over whether or not it was a good deal and whether or not […]
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Accuity Insights

Identity Matching: the Need for Ongoing Investment in Technology

In the 20 years that electronic identity matching has been in existence, there has been a massive increase in demand and a massive amount of change. And that’s by no means the end of it. Demand will continue to grow and changes will keep happening. Financial institutions need to be ready for any changes and […]
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Accuity Insights

Identity Matching: Complex Sanctions Mean Complex Solutions

Not only has the sanctions landscape become much more volatile, it has also increased in complexity. This has necessitated financial institutions to implement more sophisticated screening solutions to handle the complexities. When sanctions were first enacted in the nineties, they were applied to whole countries, such as Cuba. However, the situation moved from whole country […]
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Accuity Insights

Identity Matching: The Impact of Geopolitics

Global politics have had a big impact on name screening. So much has changed politically in the past few years –the geography of Central Europe, the situation in the Middle East and changes in Africa for starters – and this has a big effect on financial institutions and the screening solutions they use. Why? Because […]
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Accuity Insights

Identity Matching: The Role of Robots

We are happy to let machines sort through important identity matching data, discarding the irrelevant data and highlighting the risky entries. They do a great job of it. What about the post-matching process? Can they do that safely, reliably and intuitively too? That’s the general idea. The current trend in innovation is moving the post-matching […]
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