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Navigating Screening Challenges - How AI is transforming screening
Navigating the world of compliance screening is increasingly complex, marked by challenges such as diverse name variations, languages, and scripts, making precision paramount. In 2022, sanctions violations led to staggering fines surpassing $10 billion, underlining the critical role of compliance. Factors like US sectoral sanctions, the OFAC 50% Rule, and thematic sanctions further amplify the intricacies.
The transformative power of AI and ML solutions is reshaping the screening landscape by offering seamless data integration, continuous screening, AI-driven fuzzy matching, configurability, automated testing, extensive transliteration, and holistic identity matching. This eBook offers insights into harnessing AI/ML to simplify screening in an evolving compliance landscape.