BIGTXN acquires sanctions.com
London, United Kingdom — 8 December 2023
UK-based data processor BIGTXN, a provider of securities and compliance information to the financial services industry, today announced that it has completed the acquisition of sanctions.com
Having pioneered a comprehensive securities processing service, BIGTXN has been expanding its applied solutions to cover enhanced financial crime compliance risks, supporting the need for higher quality data and research in sanctions compliance to combat the growing sophistication of financial crimes, and rising expectations from regulators for robust due diligence and screening processes.
“BIGTXN is at a pivotal stage in its evolution,” comments Haider Mannan, CEO of BIGTXN. “We are proud to add sanctions.com to our portfolio of assets. By leveraging our combined strength and focus, we are well-positioned with our network of partners to develop this asset into a premier and valuable resource for the global community of legal and compliance professionals.”
Sanctions compliance has become increasingly critical in the global regulatory landscape since Russia’s invasion of Ukraine in 2022, which continues to dominate headlines as the volume and scope of restrictions continues to grow to record volumes under contemporary policy tactics. Other stringent measures continue to be imposed through sanctions to address issues such as terrorism, human rights violations, and illicit financial activities.
“The evolving nature of sanctions complexity, coupled with geopolitical shifts and emerging threats, underscores the necessity for higher quality data and research in this field”, comments Sebastian Segura, COO of BIGTXN. “In this environment, leveraging reliable and up-to-date information is crucial for businesses to navigate compliance challenges effectively and mitigate risks associated with non-compliance.”
Terms of the transaction were not disclosed.
About BIGTXN
BIGTXN delivers data that matters. We enable investment screening and monitoring solutions for financial institutions to meet compliance and investment decision requirements with the highest quality of data, transparency and trust. Through our solutions we provide datasets for investment compliance and risk intelligence.
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