Sanctions Checker - Frequently Asked Questions Answered

Northdoor’s Sanctions Checker solution helps organisations screen individuals, entities, and transactions against various sanctions lists and watchlists. It enables businesses to identify and prevent dealings with individuals or entities subject to sanctions, ensuring compliance with international regulations.

Download the Sanctions Checker PDF here.

Northdoor’s Sanctions Checker solution uses advanced algorithms and data-matching techniques to compare names, addresses, and other relevant information against a vast database of sanctions lists from different regulatory bodies and authorities. It quickly flags potential matches, allowing users to review and take appropriate actions.

You can read more about how the application works here.

Sanctions Checker covers various types of sanctions lists worldwide, including those from governments, international bodies and industry-specific regulators. A complete list of sanctions lists is available from the Northdoor Sales team.

The solution is versatile and can be applied across almost every industry, including insurance, finance, legal, manufacturing, shipping, and many more.

Northdoor’s Sanctions Checker solution boasts a high level of accuracy due to its advanced matching algorithms and regular updates of sanctions lists.

Yes, Northdoor’s Sanctions Checker solution is flexible and can be customised to align with your organisation’s requirements and risk management strategies.

Examples include choosing sanctions lists in regions where your organisation does business and setting a threshold of search results that matches your organisation’s risk appetite.

Using Northdoor’s Sanctions Checker solution, you can enhance your organisation’s compliance efforts, minimise the risk of engaging with sanctioned parties, avoid potential legal and reputational damage, and streamline your sanctions screening processes.

Sanctions screening is crucial for businesses to avoid engaging with individuals or entities subject to sanctions. Failing to do so can result in severe legal, financial, and reputational consequences.

Northdoor’s solution is designed to integrate your current systems easily through APIs (Application Programming Interfaces), allowing for seamless data exchange and automated sanctions screening.

However, it can also be used as a standalone application if integration with existing systems is not required.

Customers can switch between the standalone application and an API integration anytime.

Yes, Northdoor’s Sanctions Checker solution can be used globally, and it supports screening against sanctions lists from various countries and international organisations.

The implementation time can vary based on the complexity of your organisation’s needs and existing systems. However, Northdoor aims to ensure a smooth and efficient implementation process. Should an organisation want to be up and running quickly, many Northdoor customers have been live on the standalone application the same day an order is placed.

The sanctions lists in the software are regularly updated to ensure you can access the most current information about sanctioned parties.

Yes, the software is designed to be user-friendly and straightforward to set up and use. With that in mind, extensive training is not usually required, but Northdoor provides comprehensive training documents to ensure your team can effectively navigate and utilise the sanctions screening tool. We also have dedicated consultants to offer more in-depth training and assistance if required.

The solution is designed to screen both individuals and entities against sanctions lists.

Sanctions Checker has batch screening capability, allowing you to screen large datasets in bulk. These batch searches can also be automated to be run without human involvement, with a report of all search results automatically produced and saved in your local folder.

The service can be used for ongoing monitoring to ensure continued compliance with sanctions lists. Northdoor provides different search volume models that can be tailored to the client’s requirements, particularly in continuous monitoring.

Yes, the software automatically produces a report for any completed search, which provides an audit trail, allowing you to record all sanctions screening activities, which can be invaluable for compliance reporting and audits.

The software allows your compliance team to review and investigate potential matches. If a match is deemed a false positive, it can be cleared or marked as such within the system to prevent it from being returned again.

Depending on your preferences and requirements, the software can be installed in either cloud-based or on-premise infrastructure.

Yes, the software can be configured to perform real-time sanctions checking during transactions, helping to ensure that your business operations remain compliant at all times.

If the software identifies a true match, your compliance team must follow your established procedures, which may include further desktop research, reporting the match to relevant authorities and taking appropriate actions to cease the transaction or business relationship.

The software is designed to be scalable, allowing you to expand its usage as your business operations and compliance needs evolve.

Data security and confidentiality are paramount. The software typically employs robust encryption, access controls, and other security measures to safeguard sensitive information.

Importantly, Northdoor never has access to any client data as this is always held and maintained within the customer’s existing systems.

Northdoor provides access to sanctions lists but does not see or store client data.

Yes, the solution can be accessed by multiple users.

As part of your relationship with Northdoor, you can access technical assistance, training, and troubleshooting. You will also have a dedicated Account Manager who will manage the relationship and serve as an escalation point should it be required.

The solution’s advanced algorithms are designed to handle complex name variations and aliases to reduce false positives.

For each result, a ‘confidence’ score is provided to indicate how likely the result is the individual or entity being searched for.

The pricing structure for Northdoor’s Sanctions Checker solution varies depending on the scope of deployment, customisation, and additional services required. It’s best to contact Northdoor directly for a tailored pricing quote.

To get started, you can contact Northdoor’s sales to discuss your requirements and initiate the onboarding process.