AML Analytics attends the European Anti-financial Crime Summit, Dublin

Steve Hancock and Patrick O’Reilly attended the European Anti-financial Crime Summit at the RDS Convention Centre near central Dublin on 16th May.

Steve participated in the panel session ‘Sanctions – Staying Ahead and Best Practice’.

He noted the rapid pace of sanction list updates (491 records added, 2629 modified, and 57 removed in the last 30 days alone), stressing the need for constant vigilance in monitoring these changes.

Steve’s key message to those in the audience was to implement regular testing and audit programs to ensure your sanction screening system is effective, efficient, and explainable.

This includes verifying that the system correctly identifies sanctioned records, that the correct lists are being screened and that false positives are minimised. Keeping your system tuned to ensure optimal system performance is crucial for maintaining compliance and minimising risk.