SANCTIONS · SCREENING · COUNTERPARTY RISK
Prevent unexpected sanctions risks
International sanctions regimes can affect who organisations do business with and under what circumstances.
TradeRisk supports companies in carrying out screening and assessing potential sanctions risks relating to customers, suppliers, UBOs and end users.
Sanctions screening is more than a name check
A potential match on a sanctions list does not automatically mean there is a genuine hit. At the same time, a simple name check may be insufficient where ownership structures are complex.
An effective risk-based assessment can take into account identity, corporate structures, ultimate beneficial owners, countries and the nature of the transaction.
Relevant risk factors
IDENTITY
Is it sufficiently clear which person or organisation you are dealing with?
OWNERSHIP
Who ultimately has control or an economic interest?
GEOGRAPHY
Are there elevated risks associated with countries or regions?
TRANSACTION
Does the transaction fit the customer's profile and known business activities?
When is additional screening advisable?
- when onboarding new customers
- with new international suppliers
- for transactions to sensitive destinations
- when ownership changes
- with elevated transaction risks
- when existing information is out of date
Our support
- Customer screening
- Supplier screening
- UBO screening
- PEP screening
- End-user screening
- Investigation of potential matches
- Adverse media checks
- Country and jurisdiction risks
- Support with escalating potential hits
Sanctions regimes
- EU
- UN
- OFAC (US)
- UK
Our approach
STEP 1
Screening
We screen the parties involved against the relevant EU, UN, OFAC and UK sanctions lists.
STEP 2
Hit validation
Every hit is assessed on its merits using the available identifying information.
STEP 3
Risk interpretation
We interpret the risk and the possible consequences for the business relationship or transaction.
STEP 4
Follow-up advice
You receive a well-founded report with practical next steps.
Frequently asked questions
What is sanctions screening?
Sanctions screening is checking individuals and organisations against relevant international sanctions lists in order to identify potential risks in good time.
What happens in the event of a potential match?
A potential match often requires further investigation to establish whether it actually concerns the same person or organisation.
Is a name check alone sufficient?
That depends on the risk profile. With complex corporate structures or elevated risks, additional information may be needed.
How often should customers and suppliers be screened?
Sanctions lists are updated regularly, so a one-off screening does not provide lasting certainty. Periodic re-screening, tailored to the risk profile of the relationship, is therefore common practice.
What is the difference between EU, UN, OFAC and UK sanctions lists?
Each sanctions regime has its own criteria, procedures and listed parties, and the scope can differ per regime. A party may, for example, appear on an OFAC list without being on an EU list, which makes screening against several regimes at once relevant.
What are the consequences of breaching sanctions legislation?
Breaching sanctions legislation can lead to fines, criminal consequences and reputational damage, even when it happened unintentionally. Careful and demonstrable screening limits this risk.