Search Sanctions provides an AML compliance platform that performs sanctions, PEP, and adverse media checks to identify and monitor transaction and customer risks. The platform screens transactions in real-time against AML lists, calculates risk scores, and helps businesses report suspicious activities to regulatory bodies like MASAK.
Funding
Funding not disclosed
Founders
Product
Problem
Financial institutions face increasing pressure to comply with anti-money laundering (AML) regulations, requiring them to screen transactions and customers against sanctions lists, politically exposed persons (PEP) lists, and adverse media. Manually checking these sources is time-consuming, prone to errors, and struggles to keep pace with rapidly changing global risk profiles. Failure to comply can result in significant fines, reputational damage, and legal repercussions.
Solution
Search Sanctions provides an AML compliance platform that automates the screening of customers and transactions against global sanctions, PEP, and adverse media lists. The platform offers real-time monitoring, risk scoring, and alert management to identify and mitigate potential risks associated with money laundering and terrorist financing. It helps businesses streamline their compliance processes, reduce manual effort, and improve the accuracy of their risk assessments. Search Sanctions offers both cloud-based and on-premise deployment options, as well as an Enterprise API for integration into existing systems. The platform's rule engine allows users to create custom risk scenarios and automatically generate alerts based on defined risk levels.
Target Audience
Search Sanctions targets financial institutions, fintech companies, cryptocurrency exchanges, and other businesses subject to AML regulations that need to screen customers and transactions for sanctions, PEP, and adverse media risks.
Features
- Real-time screening against 2000+ global and local sanctions, watchlists, and PEP lists, updated every 10 minutes
- Adverse media screening to identify negative news coverage related to customers and transactions
- Customer risk scoring based on configurable risk factors and transaction history
- Transaction monitoring with a rule engine to create custom risk scenarios and automated alerts
- Batch query functionality to screen thousands of customers at once via file upload
- Enterprise API for seamless integration with existing AML and KYC systems
- Cloud-based and on-premise deployment options
- Timestamped audit trails and detailed reports for regulatory compliance