Sanctions compliance — the importance of screening
A critical question for any financial institution and its legal/compliance team is therefore how it both ensures that it is not doing business with a designated person or an entity which is owned or controlled by a designated person and how it manages its third party risk i.e. a third parties with which it does business diverting its products or services to a designated person or an entity which is owned or controlled by a designated person.
This article explains how and gives some practical tips.
Enhanced Due Diligence
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