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— Nana Steiner, VP Business Development
— Nana Steiner, VP Business Development
Yes! In the meantime there are numerous different international sanctions lists containing companies, individuals and organizations with whom and which it is not permitted to enter into any business relationships. These relate to many different nationalities.
Yes! In principle, every passenger must be checked before departure to determine whether they are on a sanctions list or an anti-terror list. Just thinking that you know someone well can have far-reaching consequences. People can appear on sanctions lists overnight as these are being constantly updated.
Yes! Sanctions lists can contain individuals, organizations, companies and even assets (aircraft, vessels, yachts, etc.).
Yes! Personnel, including leased personnel and freelancers, suppliers and external service providers also need to be regularly checked against the latest sanctions lists.
paxfiles.com is your means of ensuring that sanctions lists are checked in real time without additional effort, meaning that you are informed about suspect individuals. This ensures you avoid any legal violations in advance.
EU: Consolidated List of Financial Sanctions
EU: Consolidated List of Travel Bans
UN: United Nations Security Council Consolidated List
USA: United States OFAC SDN (Specially Designated Nationals) and Blocked Persons List
GBR: United Kingdom HM Treasury Consolidated Sanctions List
CHE: Swiss SECO Sanctions/Embargoes
AUS: Australia Consolidated List
CAN: Consolidated Canadian Autonomous Sanctions List
UAE: United Arab Emirates Local Terrorist List
INTERPOL: Red Notices
FBI: Most Wanted
USA: Foreign Sanctions Evaders (FSE List)
USA: Sectoral Sanctions Identifications (SSI List)
USA: Palestinian Legislative Council (NS-PLC List)
USA: List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions (CAPTA List)
USA: Non-SDN Menu-Based Sanctions List (NS-MBS List)
USA: Non-SDN Chinese Military-Industrial Complex Companies List (NS-CMIC List)
and many more to come.
Yes! Entities can be added to a sanctions list at any time, so it’s crucial to screen frequently. That’s why paxfiles.com ensures to perform a high-frequency update cycle, keeping you up-to-date with the latest sanctions and minimizes compliance risks. Stay compliant and secure with paxfiles.com.
Absolutely not. With paxfiles.com screening sanctions lists becomes child’s play. Sanctions lists are checked automatically, in real-time without any additional manual effort. Stay focused on your core business while paxfiles.com minimizes your compliance risks.
Absolutely not. Non-compliance with global sanctions can result in severe penalties, including fines or even multi-year prison sentences depending on the legal framework. The company’s directors are primarily affected by the penalties. In addition, non-compliance can lead to significant economic and financial risks for the company, making screening against sanctions lists an important aspect of risk management. Stay compliant and secure with paxfiles.com.
For operators, the dynamic world of global sanctions poses an intricate puzzle. With myriad lists, continuous updates, and hundreds of thousands of entries, staying compliant is a monumental task.
UN Sanctions List
The UN list lays the foundation for European and national sanctions. UN member states are mandated to report to this list, which then informs the European (EU) and other nations’ lists. Notably, the UK, USA, and Canada have created comprehensive sanctions lists based on these international frameworks.
Spotlight on Key Lists:
EU Sanctions: Critical for companies headquartered in the EU. The EU differentiates between individual and country-specific sanctions. The CFSP list encompasses all EU-sanctioned entities, whereas lists like the European Iran Embargo target specific nations.
British Sanctions: The Consolidated list in the UK combines both EU measures and national-level sanctions.
US Sanctions (OFAC): The OFAC list pinpoints US-specific targets, encompassing entities deemed threats to the country’s national security, foreign policy, or economy.
Beyond the primary lists, operators must also consider region-specific lists and security organization lists like the ‘FBI Most Wanted’ or Interpol’s ‘Red Notice List’. Relevance varies based on a company’s specific focus and operations.
Before establishing a regular check protocol, it’s imperative to discern which lists are pertinent to your operation.