Sanctions Compliance

In the dynamic landscape of regulatory compliance, maintaining adherence to sanctions requirements is of utmost importance. Yet, navigating the complexities can be challenging for businesses.

With a comprehensive range of expertise and tailor-made solutions, we are dedicated to addressing your unique needs. Our services empower you to overcome obstacles and establish a robust compliance framework that ensures your organization's continued success.

At KPMG, our Sanctions Assessment services are specifically designed to assist clients in successfully navigating this challenging environment. Our goal is to ensure your compliance with regulations and optimize operational efficiency. With our tailored solutions, we empower organizations to enhance their sanctions screening processes, mitigate risks, and establish a robust compliance posture.

Our technology solutions

In the face of increasing and evolving regulation, increasing transactional volumes, and the introduction of new sanctions regimes, KPMG has developed solutions that target both systems optimization and alert review processes. The goal is an increase in quality of screening systems performance and faster, more accurate and consistent alert review, helping Financial Institutions to meet their sanctions obligations more efficiently.

KPMG’s Sanctions screening testing platform enables clients to test the effectiveness of their customer and/or payments screening systems. The Sanctions screening testing platform has the capability to use lists from Regulators, third party list providers or client’s internal lists. The testing approach can follow the standard KPMG methodology or be tailored to a client’s perceived risk. Results are analyzed with clients to establish the root cause of non-alerting tests in addition to identifying opportunities to optimize their screening solution. Files are generated in minutes rather than days, with an auditable trail of rules incorporated and lists used to determine test file composition accuracy.

The sanctions screening testing platform provides a robust and auditable way of testing screening system effectiveness and efficiency while reducing the potential for human error.

The KPMG Sanctions Alert Classifier automates alert review decision making at the first level of review. It can deliver 99.998% accuracy in alert review decision-making with a variance of 0.001%. Alerts can be decisioned faster, with a consistently higher degree of accuracy at reduced cost.

• Using advanced machine learning techniques, the tool automates the identification of ‘True’ and ‘False’ positive Level 1 alerts, at a rate of up to 1m alerts per minute. The tool can be used with all sanctions screening systems currently in the market.

• Each alert review decision has a confidence level and is supported by a human readable decision rationale. Clients can therefore tailor deployment of the tool to dictate coverage and accuracy rates that support their risk appetite.

• The use of supervised machine learning ensures the tool is transparent and can be independently reviewed by auditors and regulators.