AML Screening

AML screening is the process of reviewing customer data, transactions, and other relevant information against known watchlists, sanctions lists, and databases to identify potential money laundering risks. This screening helps detect whether an individual or entity poses a compliance risk due to associations with illegal activities, such as financial crimes or connections to politically exposed persons (PEPs). AML screening is a crucial step during customer onboarding and throughout the customer lifecycle.

Organizations use automated tools to conduct AML screening more efficiently and reduce human error. Effective screening helps ensure that businesses comply with anti-money laundering regulations and avoid potential legal and financial repercussions.