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Safeguarding the global financial system from money laundering, which is estimated to impact 2-5% of the world’s GDP annually, is crucial. Regulatory bodies have imposed stringent penalties for violations, emphasizing the need for robust compliance measures. As financial crimes become more sophisticated, financial institutions face the challenge of leveraging cutting-edge technologies to develop and maintain effective sanctions compliance programs.
AWS provides financial customers with a powerful suite of services to address sanctions compliance challenges, including efficient sanctions list management, robust screening mechanisms, comprehensive data integration, scalable systems, and advanced analytics capabilities. With elastic computing resources, advanced analytics tools, distributed data management solutions, and secure integration capabilities, financial institutions can harness the power of cloud computing to fortify their defenses against financial crimes.