AI TOOL PROFILE
Sanction Scanner: AML Compliance Software
- Finance and Accounting
- Compliance Management
- Financial Institutions
- Fintech Startups
- Crypto Exchanges
- Insurance Companies
- Compliance Officers
- Money Transfer Operators
Pricing
Pricing was not clearly available from the provided evidence. Buyers should confirm current pricing on the vendor website, although the company offers personalized demos and free trials.
At a glance
- Best for
- Financial Institutions, Fintech Startups, Crypto Exchanges, Insurance Companies, Compliance Officers
- Key use cases
- Customer Onboarding, Transaction Surveillance, Regulatory Compliance Reporting, Corporate Due Diligence
- Integrations
- RESTful API, Webhooks
- Official website
- Visit sanction scanner official website
How AI is used
Sanction Scanner is an Anti-Money Laundering (AML) and fraud prevention platform designed to help businesses identify and mitigate financial crime risks. It provides tools for screening individuals and entities against global watchlists and monitoring financial transactions for suspicious patterns.
The software is designed for financial services, including banks, fintechs, crypto exchanges, and insurance companies, and may also support law firms and NGOs. It is designed to align with international regulations such as FATF, EU AML Directives (6AMLD), OFAC, FinCEN, and MAS.
Practical applications include supporting the customer onboarding process through KYB and KYC checks, as well as performing ongoing daily monitoring of existing portfolios. The platform uses an API-first approach, which may help businesses embed compliance checks into existing workflows.
Buyers should confirm if the API-first nature of the tool aligns with their internal technical capabilities or if they require the dashboard-based management tools provided by the platform.
Key Features
AML Name Screening
Checks customers against over 3,000 global sanctions, PEP, and watchlists across 220+ countries.
Transaction Monitoring
Supports real-time surveillance of money transfers to detect anomalies and potential fraud.
Adverse Media Screening
Scans global news and media sources for negative information related to entities or individuals.
Know Your Business (KYB)
Supports the verification of corporate entities and the identification of ultimate beneficial owners (UBOs).
Customer Risk Assessment
Assigns risk scores based on criteria such as profession, income, country, and currency.
Ongoing Monitoring
Supports daily re-screening of customer portfolios against updated lists.
Use Cases
Customer Onboarding
Performing real-time AML and PEP screening during the account opening process to identify high-risk users.
Transaction Surveillance
Monitoring payment flows for fraud and money laundering patterns via API.
Regulatory Compliance Reporting
Using dashboards and audit trails to support the generation of regulatory reports and SAR/STR filings.
Corporate Due Diligence
Verifying business entities and uncovering ownership structures to meet KYB requirements.
Integrations
- RESTful API
- Webhooks
FAQ
What does Sanction Scanner do?
- It is an AML compliance platform that provides real-time name screening, transaction monitoring, and risk assessment to help businesses prevent financial crime.
Who is Sanction Scanner designed for?
- It is designed for banks, fintechs, crypto exchanges, insurance firms, and other entities required to meet AML and KYC regulations.
How often is the sanctions data updated?
- The platform updates its global sanctions and watchlist data every 15 minutes.
Can small businesses use this software?
- Yes, the platform is designed to scale for businesses of all sizes, including startups and mid-sized fintechs.
Source category: Finance & Accounting
Source subcategory: Compliance Management
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