Kharon, Accuity partner to advance sanctions-related risk screening

Friday 8 January 2021 11:50 CET | News

Kharon has partnered with Accuity to allow organisations to better manage sanctions-related risk in their customer and transaction screening operations.

According to the press release, with this partnership, Kharon sanctions-related risk data can now be used with the Firco suite of financial crime screening solutions from Accuity. Firco users can leverage Kharon data to add greater depth to sanctions-related risk coverage, including majority-owned subsidiaries of sanctioned actors (Kharon 50 Plus), minority-owned subsidiaries of sanctioned actors, entities controlled or led by sanctioned actors, and other risk typologies. This combination seeks to improve screening accuracy and easily adjust to specific risk policies.

Furthermore, according to the recently released Accuity Sanctions Pulse, the global economic sanctions landscape was especially active during the third quarter of 2020 as regulators continued to impose sanctions across a number of issues. 

Therefore, screening against majority-owned subsidiaries of Office of Foreign Assets Control (OFAC), European Union, and United Nations sanctioned firms has increasingly become industry standard, but the steady expansion of companies and individuals placed on sanctions lists has made it increasingly important to keep pace with the changes and make the necessary adjustments to data and systems.

More: Link

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Keywords: Kharon, Accuity, business partnership, sanctions-related risk, transaction screening, fraud prevention
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime