Question: We are looking to do business with a Company in the UAE. After completing restricted party screening, we received country notes indicating high risk for financial action task force. Is this risk associated with UAE a reason to not move forward with the Customer? Answer 1: A hit on the UAE for financial concerns […]
Question: I recently joined a company for a new compliance role. A major concern I have is there is no screening process of customers other than credit checks. I continue to push to the higher ups on the importance of screening to help facilitate the spend for a screening tool, but the feedback I receive […]
Question: Hello Community, While reviewing a hit to the Sanctioned Party List – FCPA, we found the entity on the SPL to be an exact match of our business partner. The reason (violation) for the entity to be on the SPL – FCPA list, does not relate to our business. If our business is not […]
Question: Hi, When OFAC sends notifications about SDN list, will they provide all locations related to the blocked company meaning if Company A has locations in Germany and China, will they list both countries in the rule? Answer 1: OFAC will not provide all locations of a blocked company, or even the names of all […]
Question: Is it required to screen all employees of a customer/vendor who may come in contact with our company? For instance, the person who sends us the PO for a well-known global customer for EAR99 goods versus screening the well-known global customer name and address for said company? We have outside counsel directing to screening […]
Question: Is there a questionnaire anyone has available for screening customers and suppliers that is available anywhere one could use for manually screening new and potential customers/suppliers? We currently don’t have a software in place that does this for us and guidance will be much appreciated until we get one set up. Thank you in […]
Question: On the CSL, it seems that if we only enter a “Name” and toggle “Fuzzy Name” to “On” that we will get all potential matches from all “Sources” and all “Countries”. Have other companies found this to be true? Is it worth the user taking the time to click on each “source”? Are […]
Question: Currently, we receive data from our screening provider and loaded into our GTS system. We do import and export for our business. We have US customers also. Currently, if the business or individual customer’s name is partially matches, it will go to SPL block to review. Is this standard? or Would it be […]
Question: There is a well known Chinese drone company on the Entity List. There was a ban put on that US gov’t agencies are not to continue using these drones, however, based upon last publications the FBI and DHS continue to use them due to their reliability. These drones obviously have to be maintained/repaired for […]
Question: We sell some products via multiple websites. That’s also the place where the payment is taken via Credit Card or PayPal. Afterwards, the order is sent to our fulfillment system where all orders from different websites, marketplaces etc. are collected. We have come up with the following two options: Lean: Implement Sanction Screening in […]
Question: What is considered best practices when loading new customer or vendor records into a third party denied party software package? Currently, we have found about 80,000 duplicate records based on name and country of the customer or vendor. I am considering a mass deletion of duplicate records based on the same name and country, […]
Question: How are you recording / documenting that you are checking the Denied party list, before export for each shipment in a paperless situation? Answer 1: There are a couple of ways to do this. You may have a solution that does automated ongoing screening of entities/individuals. If you have all parties to the transaction […]
