Sanctions and Trade compliance awareness has increased a great deal in the last decade, as enforcement and changing global conditions have led to increased public awareness. It is not as common anymore to find organisations with international exposure, who don’t have some form of Sanctioned Party Screening system or process in place.

Unfortunately, that may not be enough….

A recent enforcement by the Department of Treasury highlights the need for more than just “having a screening system”: you must ensure that system works as intended, and is effective. In other words, you must ensure your system is healthy. Below you will read of this recent enforcement, and the lessons that can be learned from it.

When we reference Sanctioned Party Screening, what we are referring to is also commonly called Denied Party Screening, Restricted Party Screening or Third Party Screening. They all refer to the screening of your business partners against government published lists of entities you either may not do business with, or require permission to do so.

Read more about The Importance of a Healthy SPL System in our latest whitepaper.