Sanctions screening

Sanctions are legal restrictions, often targeting specific individuals, entities, or countries, that prohibit certain financial dealings with them. Regulated firms are required to screen customers against relevant sanctions lists, both at onboarding and on an ongoing basis, since sanctions lists change and a previously clear customer can be added later.

Dealing with a sanctioned individual or entity, even unknowingly in some circumstances, can carry serious legal consequences. Screening isn't a one-time onboarding check, it needs to continue for the life of the relationship.