How to find the global sanction lists?

Oliver - CEO @ Trovalo2022-08-22

A sanctions list is a list of countries, regimes, groups, and individuals who are currently subject to sanctions. Here is a list of all the Global sanctions data we have found:

What is a sanctions list?

A sanctions list is a list of countries, regimes, groups, and individuals who are currently subject to sanctions. Screening against sanctions lists from applicable sanctioning bodies is one way to ensure compliance with sanctions. In the UK it is the office of financial sanctions as well as the HM Treasury who enforce these rules and conduct asset freezes.

Who can be sanctioned?

Sanctions' target can be any of the following:

  • Countries e.g. Russia
  • Regimes belonging to a country
  • Organisations
  • Individuals
  • Ships and Aircrafts

Global Sanctions Lists

Here is the list of global sanctions:

  • Australia Consolidated List 🇦🇺

EU 🇪🇺

USA 🇺🇸

That's a lot of lists, want an API?

There are a lot of lists and they’re changing every day. To keep up with these updates most organizations use an API which is essentially a feed of data that allows quick and accurate checks.

It saves your organisation hours and hours updating spreadsheets.

Luckily we have suppliers of these API’s on our Marketplace. If you’re interested feel free to register and take a look.

Fines for Banks that Breached U.S Sanctions Graphic

How do sanctions relate to Financial services?

Sanctions lists are used to screen for risk. The principle is simple: compare data relating to the customer, supplier, employee, or transaction with data in external sanctions lists. To reduce risk, screening should be done regularly, not just at the beginning of a new relationship.

This is particularly important when conducting Know Your Customer Checks, Know Your Business checks, Credit Checks, and anti-money laundering. If there is a possible sanction match you must first check for false positives and then take action.

I have a possible sanctions match, what do I do?

Before you take action you should go through a formal review of your clients' information ensuring this is not a false positive match.

If the individual or entity you are dealing with is on the consolidated list, this is likely a target match. If there is a positive match, you must suspend the transaction and report it to your MLRO (money laundering reporting officer) or MLCO (money laundering compliance officer).

Solicitors are obligated to report sanctions-related information to OFSI, and not doing so is a criminal offense with penalties. OFSI has the power to grant licenses exempting certain transactions from financial restrictions.

See More Posts


Copyright © 2022 Trovalo, Inc. All rights reserved.