|Solicitors||Estage and lettings agents||Financial advisers||Mortgage brokers||Currency exchange|
|Insurance market||Recruitment consultants||Banks||Retailers||Accountants|
Are you looking for an Anti-Money Laundering tool as well as a robust global Financial Sanctions Screening tool?
Are you looking to screen against EU, UN, HMT, US OFAC sanctions and more?
Then look no further SanctionsSearch.com should be the only pace for your sanctions day one and ongoing compliance. Also with the incorporation of the optional ValidID suite of tools, a low cost compliant Anti-Money Laundering verification system, click here for more information, SanctionsSearch.com is now a one stop shop for all anti money laundering tools.
Many firms are unaware of the existence of the sanctions list – more importantly – they are unaware of THEIR LEGAL OBLIGATION (under EC legislation and the relevant statutory instrument as enforced by the HM Treasury) to ensure that clients with whom they do business are not on the sanctions list.
The Joint Money Laundering steering Group (JMLSG) and The Financial Conduct Authority's guidance is clear.
Firms should be able to demonstrate their clients are not on the Sanctions List both now and into the future.
Below is an extract from the FCA web site
|The UK financial sanctions regime plays an important part in delivering the Government’s foreign policy objectives. It is also used by the Government to prevent and suppress the financing of terrorism and terrorist acts. The FCA’s role is to ensure that the firms it supervises have adequate systems and controls to comply with the UK financial sanctions regime.|
To have "adequate systems and controls" is not as easy as it sounds. It is definitely not as easy as just searching the HMT list manually, as, such a search produces no audit trail and therefore, the firm is still unable to actually demonstrate and prove their actions.
Furthermore properly re-screening after frequent Sanctions list updates can be cumbersome at best but in reality impossible for most.
SanctionsSearch.com not only provides simplicity but also that elusive audit trail.
Every search carried out within our system is logged and along with a certificate for the client file, the system produces and maintains a permanent record of all clients searched against the list.
Furthermore, due to the fact that the list changes on an ongoing and regular basis, SanctionsSearch.com carries out ongoing screening after each and every HMT update, as part of the membership fee for all SanctionsSearch.com members. This means you can be confident about meeting your ongoing regulatory requirements. (subject to our fair usage policy as outlined in our T&Cs)
Compliance under this legislation applies to all persons and companies in the UK not just financial services. Firms such as Solicitors, Accountants, Recruitment consultants, gaming websites, Estate agents and Lettings agents are amongst some of the industries that use our services.