Sanctions compliance

Conducting comprehensive assessments to identify and evaluate sanctions-related risks specific to your operations and customer base.

Developing and implementing robust Customer Due Diligence (CDD) / Enhanced Due Diligence (EDD) processes and name screening systems specifically focused on sanctions compliance, ensuring thorough vetting of customers, beneficial owners and suppliers.

Reviewing and optimising transaction screening systems to enhance the effectiveness of identifying and preventing transactions involving sanctioned parties.

3rd party watchlist providers such as World Check or Dow Jones are often utilised to simplify the aggregation of sanctioned and high-risk parties for use in screening. Due to their global application and use across many industries, these lists are often bloated with many low-risk records which would not be of interest to your business if alerted.

These redundant records increase alert volumes through both false positive alerts (i.e. no actual match) and true positive alerts (i.e. true match, but of no interest/relevance), but can be removed from watchlists prior to their use in screening to reduce cost and optimize screening.

We can apply our tried and tested methodology, software and data generation capability to execute a thorough test of your screening system’s effectiveness. This test will quantify the performance of your customer and/or payment screening capability, allowing any issues (e.g. less that 100% of exact matches being alerted) to be identified, understood, prioritised and fixed.

We can assist in the creation, review, and enhancement of sanctions compliance policies and procedures, ensuring these are tailored to your risk profile and relevant regulatory requirements.

Designing and delivering training programs for your employees to enhance their understanding of sanctions regulations, red flags, and compliance requirements.

Providing guidance on compliance with global sanctions regimes, including regional and country-specific sanctions programs, and identifying any gaps or issues with your current capability.

Developing and implementing processes to assess and manage the sanctions compliance risk associated with third-party relationships, vendors, and partners.

Assisting in investigations related to potential sanctions violations, including the collection and analysis of relevant data and documentation.

Performing scenario analysis and testing to examine your sanctions exposure under various hypothetical situations, providing confidence that your sanctions compliance program would remain effective and that elements of your customer portfolio would remain commercially viable.