How sure are you that none of your suppliers or partners is on a sanction list? This is a question that every financial institution, multi-national or company with international exposure should ask itself. Governments and international bodies are quick to crack down on companies that work with a sanctioned third party. The consequences are dramatic: heavy fines, reputational damage and a ban from responding to public tenders are just some of the potential repercussions.
With sanction and watch lists running into hundreds of pages, and in more than 20 countries, manual checking is not an option. Fortunately there are plenty of sanction screening tools on the market to help you protect your business from this risk. But there’s more to setting up an effective sanction scanning system than buying an off-the-shelf solution.
As is so true in much of life, prevention is better than cure. To help protect your business we will work with you to understand your business processes and requirements and identify the most suitable Sanctions Screening Tool (SST) to meet your needs. Our services also cover
the design of the to-be process
implementation of the SST within your business operations
ongoing support after go-live
Protect your business against sanctioned third parties and contact us now.