International conference on multidisciplinary science

Sanctions and financial risk: strategic approaches for the banking system

Keldiyorov Shohruh Ilyos o‘g‘li

“Ziraat Bank Uzbekistan” JSC Department of Internal Control Senior Specialist, Sanctions Compliance Monitoring Sector

Keywords: artificial intelligence, banking system, international payments, compliance, sanctions, risk monitoring, screening, SWIFT

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Abstract

This thesis analyzes the prospects of utilizing artificial intelligence (AI) technologies in the banking sector to identify sanction-related risks and ensure the secure execution of international payments. The study examines approaches to securing transactions through compliance monitoring, real-time screening, counterparty due diligence, and algorithmic detection of connections to sanctioned entities. Practical recommendations are developed based on the realities of Uzbekistan’s banking system.

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References

1. OFAC Sanctions List — www.treasury.gov

2. FATF Recommendations — www.fatf-gafi.org

3. SWIFT Compliance Guidelines — www.swift.com

4. LexisNexis Risk Solutions — www.lexisnexis.com

5. Law on Banks and Banking Activities, Republic of Uzbekistan, 2023

6. Regulation of the Central Bank of Uzbekistan, 2022

7. ACAMS Sanctions Compliance Guide — www.acams.org