Russia Sanctions Pose an Obstacle for Automated Compliance
Russian sanctions are defeating efforts to automate compliance using screening software, reports The Wall Street Journal.
According to The Journal‘s report, the complexity of U.S. sanctions against Russia is forcing firms to manually check thousands of transactions, slowing deals and raising the cost of compliance. Unlike past sanctions, like those against Iran, the U.S. actions against Russia are targeted to punish Moscow for its involvement in Ukraine without severing economic ties with the West. But the available screening software tools that companies use to stop forbidden transactions cannot handle the nuance of U.S. sanctions against Russia, compliance experts say.
