What is Sanction | Type of Sanction | Importance of Sanction | Sanction Screening in banking | AML

What is Sanction | Type of Sanction | Importance of Sanction | Sanction Screening in banking | Sanction Screening in AML | Sanction Screening Process

Sanctions refer to legal and regulatory measures imposed by governments, international organizations, or regulatory bodies to restrict or prohibit certain individuals, entities, countries, or groups from engaging in financial transactions or accessing the international financial system. The primary objective of sanctions is to combat money laundering, terrorist financing, and other illicit activities by freezing assets, limiting financial interactions, and deterring undesirable financial behavior.

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