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Financial Sanctions Tool
Posted by James Robshaw (Import) on 02 September 2011 12:31 PM

Following a review by the Financial Services Authority they found that there were inadequacies in firms systems and controls to reduce the risk of breaching the UK financial sanctions requirements.

The FSA good practice requires firms to check:

  • Your existing clients against HMT's list
  • All new clients prior to providing any services or transactions
  • For updates to the HMT list
  • Any changes to your clients details

Not only do you have to complete this check but you have to record that you have carried it out.

This is where ProExe can assist you with our free to use Financial Sanctions Tool.

Our database is checked and updated on a daily basis so you will know you will always have up to date information. Each search is logged as an audit trail on our database for the relevant User and Company that has completed the search.

You can run monthly reports to show all the searches your company has carried out. This provides you with the information to show an authority such as the FSA.

Once you register your company to use our service you will have access to add Managers and Users to your FREE account.

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