Sanctions Screening
Sanctions list screening
Sanctions list screening — matching a person or company against international sanctions databases during compliance and Due Diligence.
- What it is
- Sanctions screening — checking a person or company against sanctions lists
- When
- In due diligence, opening accounts, applying for citizenship
- What is searched for
- Matches in sanctions databases (OFAC, EU, UN and others)
- Bottom line
- Sanctions are almost always a deal-breaker
- How to use it
- Check yourself in advance and clear false matches
In plain words
Sanctions screening is a mandatory stage of compliance at which a person or company is checked against international sanctions databases. Banks, citizenship programmes and payment systems check whether the client (or persons connected with them) is under sanctions of the United States (OFAC), the European Union, the UN, the United Kingdom and other jurisdictions.
The check runs through special databases and systems: the client’s name is compared with lists of sanctioned persons and organisations. If a match is found, it is almost always a deal-breaker: a bank will not open an account, and a state will not issue a passport to a sanctioned person. There are also “false positives” — name matches with another person, which need to be cleared properly by proving that it is not you.
Sanctions screening is an integral part of due diligence and should be approached seriously. Concealing sanctions status is impossible: the check will find it. But a false match can also hold up the process if it is not explained. That is why it makes sense to check yourself in advance against the same databases compliance uses and prepare explanations. We carry out such a preliminary check and help clear false matches.
Where screening is used
What matters about sanctions screening
- Checking against databases
- Part of compliance
- In due diligence
- OFAC (USA)
- EU and UN
- The United Kingdom and others
- Sanctions are a deal-breaker
- Refusal of an account
- Refusal of a passport
- False matches
- By name
- Must be cleared properly
How screening works
- 01A preliminary self-check
- 02Checking against sanctions databases
- 03Reviewing matches
- 04Clearing false positives
- 05A clean result
What you need to know
- Sanctions screening is checking against international sanctions databases
- The OFAC, EU, UN, UK and other lists are checked
- A match with sanctions is almost always a deal-breaker
- There are false positives on names
- Concealing sanctions status is impossible
Common mistakes
- Not checking yourself against sanctions databases in advance
- Ignoring the risk of a false name match
- Not preparing explanations to clear a match
- Trying to conceal sanctions status — it will be found
- Underestimating the strictness of this compliance stage
What this means for a BRIDGES client
We check you in advance against the same sanctions databases compliance uses, so that there are no surprises. If a false name match arises, we prepare documents proving that it is not you and clear it properly. That way sanctions screening goes through cleanly and the process is not held up.
Frequently asked questions
01 /What is sanctions screening?
Checking a person or company against international sanctions databases (OFAC, EU, UN and others) in compliance, due diligence and when opening accounts.
02 /What happens if there is a match with sanctions?
It is almost always a deal-breaker: a bank will not open an account, and a state will not issue a passport to a sanctioned person. Sanctions status is a serious obstacle.
03 /What is a false match?
A name match with another person on a sanctions list. It must be cleared properly by proving with documents that it is not you, otherwise the process will be held up.
04 /Can sanctions status be concealed?
No. The check will find it in the databases. Concealing it is pointless and dangerous; sanctions issues are dealt with openly.
05 /Which lists are checked?
The sanctions lists of the United States (OFAC), the European Union, the UN, the United Kingdom and other jurisdictions, as well as connected persons and organisations.
06 /How can you protect yourself in advance?
Check yourself against the same databases compliance uses and prepare explanations in case of a false match. We carry out such a preliminary check.
See also
Read next
This material has undergone editorial review by BRIDGES.
A serious check ahead?
We will check you against sanctions databases in advance and clear false matches — so that screening goes through cleanly, without delays.