Payment screening is a critical component of financial crime compliance, focused on monitoring and analysing payment transactions to detect and prevent illicit activities such as money laundering, terrorist financing, and sanctions violations. This process involves comparing payment details – such as the sender, receiver, and payment amount – against various watchlists, sanctions lists, and internal risk criteria. 

 The goal of payments screening is to identify suspicious or prohibited transactions before they are processed, ensuring that financial institutions do not inadvertently facilitate illegal activities. By implementing robust payments screening systems, institutions can comply with regulatory requirements, protect themselves from financial and reputational risks, and contribute to the overall security and integrity of the global financial system. This proactive approach is essential in the ever-evolving landscape of financial crime.