Name: How Sanction Scanner Works
Uploaded: 2021-03-31T14:30:47.000Z
Duration: 1 min 44 s
Description: How Sanction Scanner Works

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### Transaction Monitoring
Users generally praise Sanction Scanner's transaction monitoring capabilities. They appreciate the software's ability to automatically check transactions against sanction and PEP lists, ensuring compliance with AML regulations. The real-time monitoring feature, which scores transactions based on risk levels and generates instant alarms, is particularly lauded for its efficiency in detecting suspicious activities. Additionally, users find the comprehensive and up-to-date database of Sanction Scanner to be a valuable asset in monitoring customer transactions effectively.

### Customer Onboarding and Screening
Users generally praise Sanction Scanner for its efficient customer screening and compliance capabilities. They appreciate the real-time updates on sanctions, PEPs, and adverse media data, which enable them to swiftly assess and mitigate risks associated with high-risk customers. The automated processes provided by Sanction Scanner streamline customer onboarding and monitoring, reducing manual workload and ensuring faster compliance with AML regulations. Additionally, users value the ease of use and comprehensive database of Sanction Scanner, which allows for thorough screening of customers across multiple lists, enhancing overall risk management practices.

### Financial Crime Prevention
Reviewers consistently praise Sanction Scanner's robust financial crime prevention measures. Users highlight the software's effectiveness in detecting suspicious activities, maintaining updated blacklists, and providing real-time alerts for potential financial crimes. The machine learning and AI-based solutions offered by Sanction Scanner are commended for their ability to ensure compliance with AML regulations. Customers appreciate the ease with which they can monitor transactions and customers, reducing the risk of financial crimes within their operations. Additionally, the software's ability to streamline customer onboarding processes while adhering to AML obligations is noted as a significant benefit by users.

### Compliance and Regulations
User feedback on Sanction Scanner's compliance and regulations features is generally positive. Customers appreciate the platform's ability to enhance AML compliance, navigate complex sanction networks, and automate AML queries effectively. The machine learning and AI-based solutions provided by Sanction Scanner are commended for their quality in ensuring adherence to AML regulations. Additionally, users find the platform user-friendly, flexible, and supportive in meeting regulatory compliance requirements. Sanction Scanner's frequent updates, cost-effective solutions, and efficient API integration are also highlighted as beneficial aspects by reviewers.

### Risk Management
Users generally praise Sanction Scanner for its robust risk management capabilities. They highlight the software's ability to reduce risk levels to a minimum by providing real-time data updates every 15 minutes. Additionally, users appreciate the machine learning and AI-based solutions that aid in compliance with AML regulations, ultimately enhancing security measures. The platform's feature of fuzzy match has also been commended for effectively addressing risks associated with exact matches and inadequate PeP data collection.

### API Integration and Automation
Users consistently praise Sanction Scanner's efficiency and ease of use, particularly highlighting the benefits of its API integration and automation features. The API integration is lauded for its simplicity and flexibility, allowing for easy integration with existing systems. Automation capabilities are commended for streamlining processes and reducing manual workload. The real-time automated checks provided by the API are noted for enhancing operational efficiency. Additionally, users appreciate the cost-effectiveness of the integration, as it helps in saving both time and resources. The frequent updates to the database through API integration are also well-received, ensuring compliance with the latest regulations.

### Cost Efficiency and Operational Savings
Users consistently highlight Sanction Scanner's ability to reduce operational costs and save time effectively. The platform's cost efficiency and operational savings features are commended for streamlining processes and enhancing overall efficiency. Reviewers appreciate the cost-effective solutions provided by Sanction Scanner, emphasizing the significant reduction in workload and time-saving benefits. The consensus among users is that Sanction Scanner's focus on cost efficiency and operational savings contributes positively to their business operations.

### Real-Time Data Processing
Users unanimously praise Sanction Scanner's real-time data processing capabilities, highlighting the efficiency and accuracy it brings to their AML compliance efforts. The ability to receive real-time alerts and updates every 15 minutes is particularly lauded, as it enhances security measures and streamlines the monitoring process. The global, comprehensive, and up-to-date nature of the database is also commended, emphasizing the importance of real-time data in mitigating risks effectively. Additionally, the ease of API integration and the quick scanning of sanction and PEP lists in seconds are noted as significant advantages that contribute to a smoother operational workflow.

Sanction Scanner has been providing solutions for businesses who are struggling with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. By implementing the AML name screening product, customer registration processes have become efficient and effective, leading to increased customer satisfaction. Users have reported that Sanction Scanner's artificial intelligence-supported solutions have significantly reduced their workload as manual methods were starting to fall short.

The PEP data provided by Sanction Scanner has made it easy for institutions to perform real-time monitoring of customer transactions and generate alarms based on their risk level. During audits, users have found it helpful to view old queries whenever they want and present these reports to regulators as evidence. The API integration has made work much more flexible and effective, saving time and operational costs by controlling customers in more lists.

Sanction Scanner's Transaction Screening solution is recommended for checking business recipients and senders before transactions, providing compliance while saving time. For crypto exchanges, the software determines risk levels of customers by controlling AML and PEP data in the Sanction Scanner database during the account opening process. Money transfer companies use Sanction Scanner to comply with AML obligations and perform customer transactions quickly. With Sanction Scanner's comprehensive solutions, organizations can confidently comply with regulations while improving their business processes.

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Sanction Scanner

Anti-Money Laundering (AML)

How Sanction Scanner Works

Sanction Scanner is an anti-money laundering solutions provider established in 2019. Since our establishment, we aimed to provide cost-efficient AML solutions that can be used by all-size businesses. We protect companies from financial crimes. Currently, we are happy to serve with our four global AML solutions, soon it will be more than this.

For more: https://sanctionscanner.com/

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What is Sanction Scanner?