London regtech GSS raises $47M to help banks screen for global sanctions

News Snapshot:

Global Screening Services (GSS), a London-based regulatory compliance platform that helps financial institutions meet their global sanctions obligations, has raised $47 million in a round of funding. The raise comes amid a spike in economic sanctions, with the U.S. issuing trade-restrictions and asset-blocking against states including Russia, China, Iran, and more. Enforcement GSS co-founder and CEO Tom Scampion was previously head of financial crime for Deloitte’s EMEA arm, leaving in 2020 to become general partner at consulting firm AlixPartner — where GSS was initially incubated before being spun out as a standalone entity in 2021. The company actually raised a...