To comply with sanctions rules, you must consider ownership and control of your customers and business partners – including indirect ownership and control, which can be difficult to determine.
Countries use sanctions as foreign policy tools. Sanctions can take a variety of forms, including travel bans, asset freezes, embargoes, capital restraints, and aid and trade restrictions. Doing business with a directly sanctioned entity poses risks, but entities can also be “indirectly” sanctioned, or sanctioned “by extension”, owing to their ownership or control. Identifying such entities can be complicated and time-consuming if you lack the proper systems and data.
This whitepaper covers:
Download this paper to learn how your organization can better protect itself from sanctions risk