Global Sanctions Check and Monitoring | Sanctions Screening

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Global Sanctions Check and Monitoring | Sanctions Screening
16
Mar

Global Sanctions Check and Monitoring | Sanctions Screening

What are Global Sanctions?

Global Sanctions are restrictive measures that can be put in place to fulfil a range of purposes. These include complying with UN and other international obligations, supporting foreign and national security objectives of a country, maintaining international peace and security, and preventing terrorism. The UN Security Council can impose sanctions under Chapter VII of the UN Charter in response to any threat to international peace and security. These resolutions are binding on every UN member state in international law, and they are obliged, under the UN Charter, to implement them domestically.

Sanctions make an essential foreign policy and national security tool. It can coerce or constrain behaviour by limiting access to resources or communicating a clear political message.

Sanction searches are a crucial part of the fight against terrorism. It can pressure a country, regime or group to encourage them to cease offending behaviours, prevent their access to resources engaged in offending behaviours and signal disapproval of a particular course of action. It can also dampen conflicts by reducing the supply of arms or supporting other countries or regimes in recouping public funds which were previously misappropriated.

Types of sanctions

The following types of sanctions measures can be imposed:

  • Trade sanctions may include arms embargoes and prohibitions on the import, export, transfer, movement, making available or acquiring goods and technology from a country or company.
  • Financial sanctions like asset freezes, which freeze assets of designated individuals with more comprehensive restrictions on investment and financial services, have been in the news lately. The UK recently announced an asset freeze on several of Russia’s wealthiest and most influential oligarchs and kleptocrats living in the UK.
  • Immigration sanctions or travel bans - A travel ban means that the designated individual is refused leave or enter or remain in the UK, providing the individual is an excluded person, as mentioned under section 8B of the Immigration Act 1971.
  • Aircraft and shipping sanctions - including the de-registering or controlling the movement of aircraft and ships.

Global Sanction Bodies

Complygate Global Sanction Data sources are frequently updated as government watch lists (Sanction list) change periodically. A sample of data sources is listed below. In case more information is required, it can be requested from or specialist sanctions team:

  • Bank of England Sanctions
  • Office of Financial Sanctions Implementation HM Treasury
  • Commodity Futures Trading Commission List - Regulatory and Self-Regulatory Authorities
  • Defence Trade Controls (DTC) Debarred Parties
  • Financial Crimes Enforcement Network Special Alert List
  • Foreign Agent Registrations
  • International Police Most Wanted
  • Office of Foreign Asset Control
  • OFAC - Enhanced Sanctioned Countries
  • OFAC – Palestinian Legislative Council
  • Office of Controller of Currency of Unauthorised Banks
  • OSFI – Canada
  • Politically Exposed Persons
  • State Department Terrorist Exclusions
  • United Nations Named Terrorists
  • World Bank Ineligible Firm
  • Terrorists Inside of European Union
  • Terrorists Outside of European Union
  • Lists by US Bureau of Industry and Security - Unverified entity, denied entity and denied person

Which sector of companies need to check for Global Sanctions?

Businesses across all sectors are required to fulfil the sanctions check requirements. Enforcement of global sanctions is more pronounced in the financial sector. However, other sectors are also receiving significant fines from relevant regulatory bodies.

What do you get with Complygate Global Sanctions check?

Complygate Global Sanctions search help you meet your due diligence (DD) obligations. We take information from reputable public domain sources and help identify financial crime activity. The data also helps in Global Sanction monitoring requirements. You can access over a million records delivered in a highly structured format in real time.

How does a Global Sanctions screening work?

Global sanctions check involves screening individuals, groups, or companies against designated sanctions. This is done in accordance with organisation trades, currencies, partnerships and alliances. The names can be manually entered into the online search tool. This checks for any sanctions alerts, regularly screening customer and stakeholder databases.

Complygate Global Screening Check

Complygate global sanctions search is a leading data supplier for sanctions monitoring, AML checksPEP Screening and financial crime control. A leader in the screening business developed to meet the global banking community’s KYC requirements, Complygate has pioneered the provision of open-source intelligence for customer database entity screening. Its extensive negative media research acts as an early warning system for various hidden risks.

  • Sanctions Check
  • PEP Monitoring
  • Anti-Money Laundering
  • Countering the Financing of Terrorism
  • Anti-Bribery and Corruption
  • Organised Crime
  • Third-Party Risk

You can trust Complygate to perform sanctions checks to Know Your Customer (KYC). Visit our Sanctions Search page to learn more. We help you fight to prevent money laundering.

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