OFAC, Suspicious Activity Report (SAR) and Volume

Payment Screening: What Is It, How It Works and Its Importance

Seon

SEPTEMBER 23, 2024

List Checking : Comparing information against core sanctions lists, such as the Office of Foreign Assets Control (OFAC) Consolidated List, OFAC’s Specially Designated Nationals (SDN) List, the European Union’s Consolidated List of Sanctions, the United Nations Security Council’s Consolidated List, and other local regulatory watchlists.

Suspicious Activity Report (SAR)

Suspicious Activity Report (SAR) Money Laundering Due Diligence AML

How to Maintain Anti-Money Laundering Compliance as a PayFac

Stax

DECEMBER 4, 2023

It mandates ongoing monitoring of suspicious activity, recordkeeping, and submitting suspicious activity reports (SARs) to the government. PayFacs must also monitor their transactions continuously for any suspicious behavior and report them to the authorities immediately.

Money Laundering

Money Laundering Compliance AML BSA

Payments Space

Payment Screening: What Is It, How It Works and Its Importance

How to Maintain Anti-Money Laundering Compliance as a PayFac

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