What to know about Sanctions Checks.
What are Sanctions Check?
A Sanctions Check is a type of background screening that identifies whether an individual is subject to any sanctions, restrictions, or penalties imposed by regulatory bodies, governments, or international organizations. These checks are often utilized in industries like finance, healthcare, and international trade to comply with regulatory requirements and avoid potential reputational damage or legal consequences.
How to run a Sanctions Check Report?
To run a Sanctions Check, you’ll need to cross-reference the individual’s details with various sanction lists, such as the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) list, United Nations sanctions lists, and lists maintained by other relevant bodies. Given the international and complex nature of these checks, it’s often advisable to use a professional background check service provider that has access to updated and comprehensive databases. Always obtain consent from the individual and follow privacy laws.