Instant Payments
EU sanctions data from World-Check
With the regulatory requirements of the EU Instant Payments Regulation coming into force in early January 2025, banks and payment service providers (PSPs) in the Single Euro Payments Area (SEPA) will need to enable instant payments, allowing customers and businesses to receive funds in or under ten seconds.
This will immediately impact sanctions screening requirements, requiring payment service providers (PSPs) to screen their full customer base on at least a daily basis – and immediately after any new sanctions’ designation comes into effect.
To help customers comply with the EU Instant Payments Regulation, LSEG introduced the EU Sanctions Data File which will enable our clients to receive EU sanctions data with the World-Check quality guarantee to screen new designations as soon as possible.
EU Sanctions Data File - What is it?
Leveraging our industry-leading World-Check Risk Intelligence database, our new EU Sanctions Data File has been designed to help banks and PSPs to better manage the sanctions screening requirements by delivering EU sanctions data every 4 hours.
Key benefits include:
- Tailored to specifically to contain EU sanctions data, as published by the regulator, and updated every 4 hours
- Possibility to deal with large volumes of possible hits outside regular working hours
- Data can be ingested as an incremental change, including only records that were added or changed since the last run of the service, to ensure faster processing times as a result of lower volumes.
- World-Check Sanctions content is ISAE 3000 certified on an annual basis
- Same format as existing World-Check Data File, simple to integrate into existing workflows and can be accessed and downloaded via Secure File Transfer Protocol (SFTP)
We´re here to help
- Read our latest blog "Focus on regulations: instant payments" for more insights
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For more information on how LSEG uses your data, see our Privacy Statement.
You can adjust your preferences at any time through the preference link in any electronic communication that you receive from us.For more information on how LSEG uses your data, see our Privacy Statement.
You can adjust your preferences at any time through the preference link in any electronic communication that you receive from us.
