Why sanction screening is important?
Governments and international bodies are often quick to crack down on companies that work with a sanctioned third-party (legal entity or individual). And the span of potential adverse consequences might be dramatic, i.a.: heavy fines, reputational damage and even a ban from responding to public tenders are just some of the repercussions you may encounter.
Having on the fly clarity and confidence on the sanctions imposed on your counterparts is crucial to help you timely highlight the related risks.
How can we help?
We recognize that the sanctions landscape is continuously evolving and is becoming even more and more complex than ever before.
Our dedicated forensic team has all the necessary data sources and tools for conducting sanctions’ and watch lists’ screening across multiple jurisdictions. Right here and right now. No need to spend your time on hectic checks through numerous sanction lists and chasing their continuous updates.
Our approach
We discuss and agree on the set of sanctions lists for the screening with you.
We engage our trusted external data provider to pull together the list of sanctioned entities (including their associated entities*) at the exact time and date.
We use an algorithm and match the list of third parties provided by you with the list of the sanctioned entities.
We perform manual review of a selected ratio of identified matches for potential false positives based on additional information from publicly available sources and provided by you.
*Associated entity is an individual or a company that is related to family members or associates of sanctioned entities, branches and operational units of sanctioned banks, entities that are owned or controlled by sanctioned entities.
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Each package is valid for 365 days from the date of purchase. The checks can be used for initial screening as well as re-screening.
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