Sanctions Search - A Must!

Are YOU screening all clients against the HM Treasury Sanctions List? If you don’t you could be risking up to 7 years imprisonment, or at the very least a £50,000 fine. It is a criminal offence to deal with anyone on the HM Treasury sanctions list.

Back in May 2009 we brought to your attention this requirement to demonstrate that your client is not on the financial sanctions list both (1) at the time you transact business with them and also (2) at anytime in the future. That last part is perhaps the most difficult to monitor! We came across a company in July 2010 that had produced very good system that can do this checking and monitoring for you. The company is called Sanctions Search and since then at least half of you have already signed up for this. For those who haven’t this is a reminder of its value and what it can do.


If you check the treasury list manually by going to the HM Treasury website well done, as you are achieving part one. But you are failing to cover the second point of monitoring the list every time a new one is produced, which is at least a weekly occurrence!

The alternative is to use Sanctions Search. Although there are other sites out there they do not appear to come anywhere near in cost, functionality and offering re-screening for free!

Key features of the system include:

Ø  Fully compliant audit trail

Ø  Certificates to prove checks for client file

Ø  Membership per firm is only £20 pa which includes 100 credits

Ø  Additional search credits only £10 for 100

Ø  All clients are automatically re-screened whenever HMT list is updated, free of charge

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