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17/01/2018

Play it safe with the PROMOS Sanctions List Check

Terrorism prevention is a global topic. Even companies in the housing industry are required to regularly perform security screening of tenants and potential tenants. However, the gap between the current status of information and the actually regulated handling of EU directives seems impossible to close in many companies. In this article, you will find out how to implement initial IT measures without much effort.

Without a doubt, 11 September 2001 is permanently burned into many people’s memories. As a response to the attacks, the European Union published special lists of people, associations and organisations in December 2001, which are regularly updated and provide information on who has been involved in terrorist acts and with whom all business contacts are forbidden.

These sanctions lists, also known as anti-terror lists, are what make it possible to effectively and legally perform a terror check in the scope of the anti-terrorism directives. The general objective here is to remove the financial basis of terrorism. For this reason, all companies in the European Union are obligated to implement provisions within their companies to ensure that business contacts to blocked persons, organisations, associations and companies are neither developed nor maintained. However, how precisely these provisions are arranged is up to the company itself.

To avoid legal consequences or even financial penalties in the event of non-compliance with these directives, it is recommended that you quite literally play it safe and download the valid lists of names from the Internet as well as perform a short but conscientious check. This kind of check does not always have to involve much effort – we can convince you of this with the new PROMOS solution for checking your business contacts.

On request, the PROMOS Sanctions List Check performs fully automated sample checks of your business partner inventory for possible matches with the regularly updated sanctions lists from the EU and the UN. The data acquisition in SAP®, the specification of the time intervals and the search tolerance can all be defined individually.

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