Sanctions Alert Classifier

Financial sanctions are targeted economic measures aimed specifically at individuals, institutions or organizations in order to significantly restrict their access to financial means and economic resources. They serve to prevent the financial flow to and from the sanctioned actors, for example by freezing assets and blocking transactions. The main objective of these measures is to effectively cut off the affected parties from international and national economic circulation in order to exert political pressure or prevent undesirable behavior such as human rights violations or support for terrorist activities.

Compliance with financial sanctions is an essential part of the compliance management of financial institutions. Institutions that disregard sanctions risk high fines, which have multiplied in recent years. There are also considerable legal, reputational and operational risks. In order to minimize such risks, financial institutions must have effective sanctions compliance systems in place that enable them to quickly identify potential sanctions cases and respond to them with appropriate measures.

Our comprehensive range of services supports you from the first step of the inventory to operational support in the daily processing of sanctions screening hits.

Thanks to our extensive consulting experience from numerous projects and our insights from auditing activities at many financial institutions, we can integrate proven best-practice approaches to provide you with sound and effective support that reliably meets your specific requirements.

• Sanctions governance/preventive sanctions compliance
  • Improvement through analysis of sanctions risks and implementation of compliance programs
• Operational support in sanctions screening
  • Targeted support for the efficient processing of sanctions cases
• Selection and introduction of sanctions tools
  • Optimization of business processes and efficient improvement of workflows
• Training on sanction topics
  • Tailor-made training concept for sustainable knowledge building

In light of increasing and changing regulations, rising transaction volumes and the introduction of new sanctions systems, KPMG has developed solutions that enable both system optimization and the verification of alerts. The aim is to improve the quality of the performance of early warning systems and provide faster, more accurate and more consistent review of alerts, helping financial institutions to meet their sanctions obligations more efficiently.