Under AML we are required to consider operations and/or payments in high-risk countries under financial sanctions listings, FATF high-risk jurisdictions, Poor score on the Transparency Int'l Corruption Perception Index and dealing with individuals or entities on the UK Sanction List.
However, the information keeps on updating and the AML software should be able to support us in meeting our regulatory duties. Accordingly, I suggest the IRIS AML should help monitor it if we can record the names of countries of operations/dealings for a client on their system. It would be easier for your team to keep the sanction/high-risk lists updated and flag the client to us if it falls into the category requiring enhanced due diligence.
Individual ID checks raise concerns about PEP but no such option is available for entities or countries.
