How effective is your sanctions screening?

Companies who are sanctioned by extension are not on any sanctions list – but you still shouldn’t trade with them. Do you have the resources to identify them? 

Complying with the EU and OFAC’s sanctions and the 50% rule is challenging. You should not trade with a sanctioned entity, or an entity that is sanctioned by extension. Failure to comply, even unknowingly, could lead to a fine, and damage your reputation.

Watch our short video to see:

• when an entity is sanctioned by extension
• an example of how a US company is linked to a sanctioned individual in Russia through nine companies – meaning all companies in the chain are sanctioned by extension under OFAC’s 50% rule
• how you can check your existing network, screen new entities and set-up alerts to monitor them

In April 2018, OFAC sanctioned 12 Russian individuals for interfering in the US election. Orbis identified 1,300 companies that became sanctioned by extension as a result, and 90% were registered outside of the US.

You might also be interested in:

• Orbis - the world’s most powerful comparable data resource - including extensive corporate structures

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• Our free poster that creates clarity around ownership structures
  
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• Our free interactive A-Z guide of compliance terms
  
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