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SANCTIONS RISK MANAGEMENT

Sanctions screening

and due diligence

Access quality, relevant risk intelligence sanctions-screening data to help you meet your regulatory obligations quickly and efficiently.
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Overview


Sanctions are protective restrictive measures, such as an asset freeze or block, investment or travel ban, financial sanctions, arms and trade embargoes.

There are varying sanctions types including: explicit sanctions, where the subject is named; narrative or implicit sanctions, which don’t specifically name an individual or company but extend to entities covered by a narrative statement on a sanctions programme due to their connections to the main sanctioned entity; and sectoral sanctions. Sanctions can be applied against but not limited to a country, entity, individual, organisation and vessel.

Sanctions are our highest priority and receive dedicated attention, major sanctions lists (OFAC, EU, UN) are monitored and covered on a 24/7/365 basis. We have 470+ researchers situated in 240 countries and territories on five continents, 90+% speaking two or more languages. There are currently 57,000+ active sanctions records across more than 300+ sanction programmes as part of the World-Check sanctions-screening coverage.

We monitor 10,000+ global information resource lists, 800+ sanction, regulatory, law enforcement lists and 5,900+ official/government sites and we add 50,000+ new records monthly.
What is sanctions screening?


Sanction compliance poses a challenge to organisations as not only is it an ever-changing landscape, but there is no finite sanctions list to follow and organisations must nevertheless ensure that they do not transact with any blocked entity. 


Screening for sanctions risk is a mandatory requirement for regulated entities across all sectors and is a critical step in the know your customer or KYC process. Moreover, penalties for breaching sanctions can be severe. In 2021 the US Treasury Office of Foreign Assets Control meted out fines amounting to over US $20 million, 10 of the 20 penalties were levied at corporates. In 2020 the penalties amounted to US $23 million and only two were financial institutions.


Ensuring your organisation has a robust sanctions-screening programme in place is essential. Access to comprehensive and accurate sanctions risk data is therefore critical.




OUR SOLUTION

Need help to comply with the stringent sanction regulations?

Our suite of solutions provide everything you need to help you stay compliant in an evolving sanctions landscape. Access accurate sanctions data, view detailed insights and background check reports, and stay up to date on any changes with our monitoring capabilities.


Refinitiv World-Check

World-Check sanctions-screening data contains comprehensive coverage of all known sanction bodies and includes more than 300+ sanction programmes.

  • Access accurate data, quality data - our specialist research unit monitors major sanction lists 24/7, 365 days of the year. On an annual basis our sanctions processes undergo ISAE 3000 design-effectiveness certification.
  • Significantly reduce your sanctions-screening workload, as our records are deduplicated - each subject has a unique record.  All information by the sanction issuers are available on that record, together with official sources for verification, reducing the number of records needing to be screened.
  • Filter keyworded records easily and choose which records to screen against to match your own risk-based approach, policies, procedures and regulations for sanction compliance.
  • Tackle the challenges of complying with narrative, implicit and sectoral sanctions when there is no finite sanctions list to follow. We have applied significant further qualitative research to uncover those entities and individuals who fall within the scope of these sanctions.

Refinitiv Due Diligence Reports

To fully understand your exposure to indirect sanctions you need to go one step further and uncover in-depth ownership structures of entities and/or ​the source of wealth of certain individuals.

  • Get detailed insights and background checks on any business or entity with a range of due diligence reports.
  • Designed to provide deep intelligence and tailored to your use-case and situation - whether you require quick, affordable data-driven reports that deliver essential information on more entities, or detailed integrity and advanced background on known high-risk customers, vendors or business interests.
  • We leverage our unrivalled propriety and partner data, and global network of human expertise to provide deep insight that can help you pinpoint risk and provide protection from potential regulatory, reputational and financial damage. 
Managed Services

Our Managed Services team can help you to stay on top of any profile changes and avoid backlogs with ongoing monitoring.

  • Reduce your compliance burden and maximise existing resources by outsourcing ongoing monitoring to our Managed Screening Service team.
  • Our team can help you screen large batches of your third parties and customers against Refinitiv World-Check database covering Sanctions, Politically Exposed Persons (PEPs), State-Owned/State-Controlled Entities, Law Enforcement and Regulatory Enforcement lists. If we have identified newly arisen issues, our team will then escalate this to you.
  • This cost-effective solution will allow you to reduce false positives and identify changes in risk levels in the face of the rapidly changing sanctions’ landscape.









Financial Instrument Risk Intelligence (FIRI)

Financial Instrument Risk Intelligence (FIRI) delivers accurate, comprehensive sanctions content for both sanctioned entities (including explicit and implicit/narrative sanctions) and instruments.

  • Extensive coverage of national, international and sectorial sanctions lists and watchlists including full coverage of explicit and implicit sanctions regimes. It includes but is not limited to: European Union (EU), Hong Kong (HKMA), U.S. Office of Foreign Asset Control (OFAC), United Nations (UN).
  • Accurate and up to date - our financial instruments data is updated weekly and is powered by the sanctions content managed by the World-Check Sanctions team to include explicit sanctions. The World-Check Sanctions teams also conduct extensive qualitative research to uncover implicit sanctions risk on complex structured entities and therefore their related financial instruments.
  • The types of financial instruments covered include debt, equities, derivatives, ETFs, indices, funds and warrants.

BENEFITS
Why we are trusted worldwide
Discover the benefits of working with us for your sanctions compliance.
Reliable intelligence

We follow the most stringent guidelines for research methodology and inclusion criteria – applying rigorous quality control.
Up-to-date information

With research centers on all five continents, we provide
around-the-clock monitoring of sanction lists, regulatory and enforcement lists, as well as thousands of reliable media
sources, so you have accurate and up-to-date information.
Targeted screening

Hundreds of specific keywords for our data help you filter and drill down for focused screening and reduce false positives.
Refinitiv, is one of the world’s largest providers of financial markets data and infrastructure. Serving more than 40,000 institutions in approximately 190 countries, we provide information, insights, and technology that drive innovation and performance in global markets. Our 160-year Reuters heritage of integrity enables customers to make critical decisions with confidence, while our unique open platform, best-in-class data, and cutting-edge technology bring greater opportunity to our customers. By advancing our customers, we drive progress for the entire financial community.
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