Top 5 Denied Party Screening Mistakes
When it comes to denied party screening, many companies are making critical mistakes which could cause them to face compliance breaches and result in severe financial and reputational costs
As trade volumes increase, the risk and probability of doing business with restricted or sanctioned entities also go up. Organization could face legal ramifications for conducting business with restricted persons/companies and violating denied entity regulations.
Manually identifying denied parties and sanctions, or even using outdated search engine technology is not only inconvenient but can be risky for any business.
Many companies today are making five critical mistakes in their screening process. Screening your local and global business partners accurately is an essential part of protecting your company’s reputation.
Click on the button below to find out which top 5 denied party screening mistakes companies are experiencing and understand whether your organization is screening thoroughly and effectively.
Let ONESOURCE Denied Party Screening help in your import and export compliance process
By submitting this form, you acknowledge the Thomson Reuters group of companies will process your personal information as described in our Privacy Statement, which explains how we collect, use, store, and disclose your personal information, the consequences if you do not provide this information, and the way in which you can access and correct your personal information or submit a complaint.
ONESOURCE Denied Party Screening (DPS)
With ONESOURCE Denied Party Screening (DPS), the process of screening international denied party lists can be easily automated. Integrating with the existing ERP, CRM, and SRM, the solution automatically triggers a screening process with the addition of or change to a customer or supplier, reducing the time-consuming process to just a fraction of seconds. It gives you the power of 300 researchers, covering 240 countries in more than 60 languages.