Compliance Screening from AEB automatically runs restricted party screening for you in the background. The intelligent software, which can be used anywhere in the world, warns you before a business partner becomes a liability. Quickly and reliably, while the rest of your business continues uninterrupted. The AEB software lets you run all your processes with peace of mind, secure in the knowledge that you’re complying with all relevant sanctions.
Compliance Screening runs in complete automation to minimize your compliance risks. Manual tasks are virtually eliminated. The software relies on smart automation: The restricted party lists, for example, are automatically updated each day without any need for IT to get involved. A screening algorithm also minimizes the number of false positives – matches based on a mere similarity of names.
Whenever a match is identified, Compliance Screening generates an email to your compliance officer. This saves you the trouble of constantly working through lists of matches.
You yourself decide when and how you wish to screen your business contacts against the restricted party lists that are relevant to you. Compliance Screening is browser-based, so you and your employees can access the software from anywhere in the world whenever you need to run an ad hoc address check. Larger databases of addresses can be transmitted together as a file for regular screening. The best way to avoid compliance risks is to let the sanctions list screening run in the background in your ERP or CRM system. If a match is identified, your compliance officer is notified by email while the rest of your business operations continue unimpaired.
Regular screening of your suppliers and customers in the master data is a key component of reliable compliance screening. You also need to monitor specific business transactions such as orders and deliveries so that you have the option to stop the process immediately in the case of a match. Compliance Screening’s APIs make it easy to ensure this kind of seamless monitoring in your ERP or CRM system. For SAP® and Salesforce systems, we provide the apps and plug-ins you need.
Our content partners augment the official sanctions lists offered by AEB with restricted party lists, watchlists, and enforcement lists valid around the world. You can also define your own restricted party lists. Compliance Screening even lets you enforce bans on indirect provisions from EU embargo regulations and adhere to the OFAC 50% rule.
And if you need a PEP list or wish to screen your business contacts for negative media reporting, you’ll find the content you need.
Compliance Screening provides detailed explanations to help you understand the relevance and legal consequences of which lists you include in the check, and what to do in a worst-case scenario.
Our help is available outside the software as well: AEB can provide consultation in setting up your processes – designing operational and organizational procedures for screening, training your employees to understand the legal requirements surrounding financial sanctions, etc.
All screenings and results are meticulously logged – even the approval of suspected matches, including the reasons for approval and document attachments. This makes it possible to provide quick and comprehensive documentation of your compliance with all screening obligations, even years later.
Protect your company against sanctions violations.
Safeguard your reputation as a respectable exporter – along with your customs authorizations and AEO status.
Avoid showing up on one of the many US blacklists.
Take advantage of “silent” background screening, with blocks and email alerts only when a match is identified.
Lower the risks of doing business by flagging illicit business contacts early on, before any contracts are signed or goods exchanged.
Always have the information you need at your fingertips, thanks to centralized electronic documentation.
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Companies based in the EU generally need to worry only about sanctions and restricted party lists arising from EU embargoes or the various bodies of national law.
There are two types of embargoes whose annexes need to be included when screening business partners. First, there are embargoes against persons derived from the EU anti-terrorism regulations 881/2002 (ISIL/Daesh and Al-Qaida), 2580/2001 (suspected terrorists), and 753/2011 (Afghanistan) including all amending regulations.
Then, there are country-specific EU embargoes with attached lists of names. These apply to countries including Iran, Iraq, Democratic Republic of the Congo, North Korea, and Sudan.
The websites of the responsible national authorities include the anti-terror regulations as well as a current list of country-specific embargoes, some of which include name lists in their annexes.
The United States asserts worldwide authority for its export control laws. Businesses whose activities fall under US jurisdiction must ensure compliance with US law. This applies even when the company is based in the EU and not in the US. The US maintains a number of blacklists with different backgrounds and legal consequences. Worldwide jurisdiction is claimed only for a handful of these blacklists.
Compliance Screening offers an extensive library of international lists or packages of lists.
The current lists are also expanded continuously.
Yes, Compliance Screening lets you create your own lists to define your own restricted parties.
They are updated daily. We go to the original source of the restricted party lists on the websites of the relevant authorities, consolidate the data in a package, and upload it each night to the server, where it is available for download. The Compliance Screening installations automatically download this file each night from the server. This means that the restricted party lists always include the latest day’s changes.