Rolf Hauge, founder, and CEO of CBA explained: “CBA advocates that the relevant controls take place in real-time before any new outgoing messages and accounting are generated. Just as you check if the funds are available in your account before authorizing a payment, so the Sanction Screening and AML controls should take place at the same time and as the first step in the automated processing of any business event – and not only for payments but for any business event in any banking product. It’s clear that the requirements for Sanction Screening and AML are only going to increase so it’s essential that banks prepare by taking the right approach now.”

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Source: Commercial Banking Applications and Finextra