Sanction list

Worldwide governments are establishing sanction lists that blacklisted economic individuals and entities.

They list individuals or organizations that engaged in illegal activities such as money laundering which represent increased risks. Therefore, companies cannot do business with sanctioned people or entities. Governments now also blacklisted individuals and entities involved in illegal cryptocurrency activities.

Sanctions are measures taken by regulators or governments against countries, partners, regimes, or other persons due to violations of international law. It also applies to criminals and terrorist organization members who prohibit doing business in a particular country or sector.

Part of AML compliance involves ensuring that the customers do business which are not subject to any sanctions and that your company can adequately assess the risks of working with them.

Sanction lists are part of AML policies. Obliged companies must thus put in place sanctions controls to remain compliant.

Discover more about blockchain crypto and compliance with our Glossary.

About Scorechain

Scorechain is a Risk-AML software provider for cryptocurrencies and digital assets. As a leader in crypto compliance, the Luxembourgish company has helped over 200 customers in 40 countries since 2015, ranging from cryptocurrency businesses to financial institutions with crypto trading, custody branch, digital assets, customers onboarding, audit and law firms, and some LEAs.

Scorechain solution supports Bitcoin analytics with Lightning Network detection, Ethereum analytics with all ERC20 tokens and stablecoins, Litecoin, Bitcoin Cash, Dash, XRP Ledger, Tezos, and Tron with TRC10 and TRC20 tokens. The software can de-anonymize the Blockchain data and connect with sanction lists to provide risk scoring on digital assets, transactions, addresses, and entities. The risk assessment methodology applied by Scorechain has been verified and can be fully customizable to fit all jurisdictions. 300+ risk-AML scenarios are provided to its customers with a wide range of risk indicators so businesses under the scope of the crypto regulation can report suspicious activity to authorities with enhanced due diligence.