What are Sanctions List?

• As per FCA, Financial sanctions are imposed by the government and may apply to individuals, entities and governments, who may be resident in the UK or abroad.
• The sanctions regime imposes serious and extensive restrictions on dealing with people who are listed. Under the legislation, they’re referred to as “designated persons”.

Who is on Sanctions List?

Many of the sanctions lists include targets for criminal financing of terrorist activities. Sanctions lists include individuals, organisations or all nations involved in criminal financing of the following activities:

• Terrorism
• Drug trafficking
• Terrorist financing
• Human rights violations
• Money laundering
• International contract violation
• Weapon proliferation

How many Sanctions List do you need to check?

Governments and financial authorities around the world keep lists of sanctions. These lists are public. Some of these lists are:

• United Nations Sanctions (UN)
• OFAC — Specially Designated Nationals (SDN)
• EU Financial Sanctions (EU)
• UK Financial Sanctions (HMT)

Guidelines for you:

Sanctions List contains huge data from different sources and is growing constantly. You as an organisation must make sure the below is followed:

• Apply a risk-based approach to setting up a system that checks your clients against the sanctions lists.
• If a client comes up as a possible sanctions match, you should review all the client identity information you hold against the sanctions list, to make sure you do not have a false positive identification.
• If an exact match is found then report the transaction/person details to the regulatory body, NCA in the UK or FINTRAC in Canada or AUSTRAC in Australia, OFAC in US or RBZ in Zimbabwe.

How CEBS helps with Sanctions List?

• CEBS provides UK, UN, EU and OFAC unlimited sanctions list checks FREE forever.
• Report specifying what matched, number of records searched including date and time of the search
• Sanctions List is updated regularly
• CEBS can be integrated using API with any commercial partner for Sanctions List screening.