What Is A Sanctions List?
In order to ensure financial sanctions are observed and enforced, financial institutions are required to consult sanctions lists when conducting business.
Financial sanctions are a significant part of the global fight against financial crime and are used by governments all over the world to restrict or prohibit trade with foreign targets which are involved, or suspected of being involved, in illegal activities. Financial sanctions may be leveled against entire countries, or against individuals and entities. They may also be used against parties not directly engaged in crimes, but which are acting on behalf of others who are doing so. To help businesses determine who is, and who is not, the subject of financial sanctions, governments, and financial authorities issue sanctions lists.