Explore the Latest Trends, Challenges, and Technologies in Sanctions Compliance
The landscape of sanctions compliance is evolving rapidly. With increasing complexity, frequent regulatory updates, and heightened geopolitical risks, financial institutions face unprecedented challenges in ensuring compliance.
The GSS Sanctions Survey offers an in-depth look at how industry leaders are adapting their strategies and embracing new technologies, such as AI, to manage these challenges effectively. Compiled with insights from the GSS Advisory Board comprised of 35 major financial institutions globally, this report showcases a number of themes including:
- Sanctions Complexity: Institutions rate the current sanctions environment as challenging (4.2/5), with complexity driven by geopolitics, regulatory demands, and targeted “smart” sanctions.
- Data Quality: Ensuring accurate data remains a top priority (4/5), especially as institutions continue to adopt ISO 20022.
- AI/ML Impact: 100% of surveyed institutions expect AI/ML to play a transformative role in screening, automating decision-making, and reducing false positives.
- Collaboration Imperative: 97% view industry-wide collaboration as essential to tackle sanctions compliance challenges effectively.
Whether you’re leading a compliance team, managing risks, or simply staying informed, this report provides insights to help you navigate the future of sanctions compliance.
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