Sanctionslists
Sanctions lists
Sanctions lists — registers of persons and companies with whom transactions are restricted or prohibited; maintained by OFAC, the EU, the UN, the UK and others.
- What it is
- Sanctions lists — lists of persons and companies under restrictions
- Who administers it
- OFAC (USA), the EU, the UN, the United Kingdom and others
- What it means
- Transactions with listed persons are restricted or prohibited
- During checks
- A match is almost always a deal-breaker
- How to use it
- Check in advance that you are not on the lists
In plain words
Sanctions lists are official lists of individuals, companies and organisations against which states and international bodies have imposed restrictive measures. Being included on such a list means that doing business with the person is prohibited or severely restricted: assets are frozen, transactions blocked, and access to the financial system of the jurisdiction concerned closed.
There are many lists, kept by different bodies: OFAC in the US (including the well-known SDN List), the European Union, the UN, the United Kingdom (OFSI) and individual countries. The lists differ in scope and grounds and are updated regularly, and because of the global role of the dollar and major financial centres many of them have a cross-border effect — banks around the world check against them so as not to breach sanctions.
In investment migration and bank compliance, checking against sanctions lists is mandatory: a match almost always becomes a deal-breaker for opening an account or obtaining citizenship. False name matches are possible, however, and need to be cleared properly. We check clients against the key lists in advance and help resolve any questions before filing.
Where the lists are used
What matters about sanctions lists
- OFAC (USA)
- EU and UN
- The United Kingdom and others
- Frozen assets
- Blocked transactions
- A ban on doing business
- Cross-border influence
- Banks check against them
- Deal-breaker
- Updated regularly
- Different scope
- False matches are possible
How checks against the lists work
- 01A preliminary check
- 02Checking against the key lists
- 03Reviewing matches
- 04Clearing false positives
- 05A clean result
What you need to know
- Sanctions lists — lists of persons and companies under restrictions
- Kept by OFAC, the EU, the UN, the UK and other bodies
- Inclusion blocks assets and transactions
- Many lists have a cross-border effect
- A match is almost always a deal-breaker
Common mistakes
- Checking only one list and ignoring the others
- Not taking the cross-border effect of sanctions into account
- Not checking yourself in advance
- Ignoring the risk of a false name match
- Trying to conceal sanctions status
What this means for a BRIDGES client
We check clients against the key sanctions lists at once — OFAC, the EU, the UN, the UK — not just one, and take their cross-border effect into account. In the event of false name matches, we prepare documents that settle the question. That way the sanctions check goes through cleanly, with no surprises on the bank’s side.
Frequently asked questions
01 /What are sanctions lists?
Official lists of persons, companies and organisations under restrictive measures. Inclusion blocks their assets and transactions in the jurisdiction concerned.
02 /Who keeps these lists?
Different bodies: OFAC in the US (including the SDN List), the European Union, the UN, the United Kingdom (OFSI) and individual countries. The lists differ in scope and grounds.
03 /Do sanctions apply outside the country?
Many have a cross-border effect: because of the role of the dollar and major financial centres, banks around the world check against them so as not to breach sanctions.
04 /What happens if there is a match?
It is almost always a deal-breaker: a bank will not open an account, and a programme will not issue a passport. Sanctions status is a serious obstacle in finance and immigration.
05 /Are there false matches?
Yes, on names, with a namesake on a list. They must be cleared properly with documents proving that it is not you — otherwise the process will be held up.
06 /How to check yourself in advance?
By checking against the key lists before applying. We carry out such a preliminary check and, in the event of a false match, prepare explanatory documents.
See also
Read next
This material has undergone editorial review by BRIDGES.
Need a clean sanctions check?
We will check you against the key lists at once and clear false matches — so that you pass the sanctions filter without delays.