Billions of Files Scanned to Identify Russian Data to Comply with the Sanctions Imposed by U.S. Government

for one of the largest banking and finance companies

Business Need

  • Identifying the Russian Data in the system – people, military servicemen, and more
  • Complying by the sanctions imposed by U.S, Government on Russian transactions in the light of the recent global event
  • Scanning billions of files to identify Russian data in the system
  • Blocking assets related to the sanctions to avoid risk and to ensure compliance with sanctions

Challenges Faced

  • Identifying assets related to over 300 sanctioned companies by the U.S. Government
  • The growing list of sanctioned individuals and entities resulting in the risk of implementation gaps
  • Understanding the applicable sanctions to avoid penalties for violating U.S. sanctions
  • Strengthen the screening process to avoid compliance breakdowns and severe penalties

Solution Offered

Data Dynamics’ Analytics Suite:

Identification

  • Analyzing files to identify Russian with respect to entities such as – names, birthplace, telephone, language, address, location, company, and more

Analysis

  • Content analysis report for custom reporting templates
  • Identification of files with sensitive information associated with regulatory requirements for higher governance, risk mitigation, and compliance

Action

  • Creating an immutable audit log backed by blockchain technology to track the data access activities
  • Quarantine files containing sensitive information or remediating file permissions to drive security and compliance

Business Impact

  • Identification of Russian data assets to comply with the recent sanctions imposed by U.S. Government
  • Strengthened discovery process for compliance ensuring no penalties for violating sanctions
  • Accelerated process to block the Russian assets to avoid any further financial transactions
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