AML & Compliance Intermediate

Sanctions Screening

💡 In plain English: Checking every customer and transaction against government lists of banned individuals and countries before processing.

Definition

Sanctions screening is the process of checking customers, counterparties, and transactions against international and domestic sanctions lists — including UN, OFAC (US), EU, and UAE lists — to prevent transactions with sanctioned individuals, entities, or countries.

📌 Real-World Example

Before processing an international wire transfer, a bank automatically screens the sender and recipient against OFAC and UAE EOCN sanctions lists. A match freezes the transaction.

Related Terms

AML (Anti-Money Laundering)
The rules and systems banks use to stop criminals turning illegal...
KYC (Know Your Customer)
The process banks use to verify who you are, what you do, and...
FATF (Financial Action Task Force)
The global body that sets the international rules for fighting...
CBUAE (Central Bank of UAE)
The UAE's central bank and primary regulator for banks, exchange...
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⚠️ Educational Content: All definitions and examples on this page are for educational and consultancy reference purposes only. They do not constitute financial, legal, or investment advice. Moneykar is not registered with SEBI, CBUAE, SCA, or any financial regulator. Consult a qualified professional before making financial decisions.

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