Secure Your Business: Effective Customer Screening Against Sanctions Risks


Customer screening is an essential step in the fight against financial crime, which can be divided into three main categories:
  • Adverse media screening
  • PEP screening 
  • Sanctions screening 

While the need to conduct adverse media, PEP and sanctions screening is primarily the focus of financial institutions (banks, fintech's, etc.), sanctions screening is a key element for any company to avoid fines, reputational damage, and sanctions-related regulatory violations.

Companies at increased risk of sanctions violations may include: 
  • Financial institutions
  • Companies involved in international trade (import and export)
  • Multinationals (companies with operations in multiple countries and continents)
  • Shipping and logistics companies 
  • Companies in the energy sector (oil, gas companies) 
  • Technology companies (especially if they develop applications for dual-use goods) 
  • Companies in the defence industry 

Whilst manually checking the sanctions list can be a useful tool to ensure that a company is not doing business with a sanctioned entity, manually checking each customer is a much more time consuming and risky approach, as it's important to note that if a company is at least 50% controlled by a sanctioned entity/beneficial owner, the company itself may be considered sanctioned under EU, UK or OFAC regulations.


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Julius Lastauskas

AML and Sanctions Consultant

+370 5 212 35 90

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