Financial Sanctions Search

As you will all know I sometimes introduce you to products or services that I feel may benefit your business. You are all aware, as reported in Bulletin Board 28 in May last year, of the requirement to demonstrate that your client is not on the financial sanctions list (available on the HM Treasury web site) both now and going into the future. The FSA have become increasingly concerned about this developing situation and it is going to be one of the standing agenda items with the new financial crimes division to be set up soon. I have recently had brought to my attention an extremely affordable solution to this. It is a site called SanctionsSearch.com which offers individual manual searches as well as bulk uploads so you can check the whole of your client bank in one go. They have a minimal membership charge of 20 per annum which includes 100 free search credits. Additional credits can be purchased for 10 per 100. Although there are other sites out there they do not appear to come anywhere near in cost, functionality and offering re-screening for free. Key features include:  Fully compliant audit trail  Annual certificates for client file  Membership per firm only 20 pa which includes 100 credits  Additional search credits only 10 for 100  All clients are automatically re-screened whenever HMT list is updated free of charge For more information visit: https://www.sanctionssearch.com/default.aspx

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