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Check business partners against sanctions lists when entering data

Comply with EU Anti-Money Laundering Directive, observe PEP lists

Regularly check the customer master

Freedom is based on security.

To trade freely (in both senses of the word), you must be sure that your business partners are trustworthy. Since the legislator unequivocally prescribes that, for international transactions, you must check that customers or suppliers are not on any sanctions lists.

Sanctions lists

As part of the global war on terrorism, in 1999, the UN Security Council compiled their first list of presumed supporters of extremist and terrorist groups. Following on from this, the EU maintains its own lists, which are regularly updated. In accordance with the applicable EU regulations, the member states are required to freeze the assets of persons named in the lists and to not conduct any business with such persons. The sanctions lists are published in Germany by Bundesanzeiger Verlag.

Politically exposed persons

As part of the 3rd EU Anti-Money Laundering Directive, financial service providers (e.g. banks or insurance companies) are obliged to identify customers from their customer master who are listed on lists of politically exposed persons (PEP).


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The solution

TOLERANT Sanction helps you to check the data from your business partners in accordance with the regulations from the European Union – even if the spelling of their names is questionable. During an exact data comparison, due to poor data quality of the sanctions lists or PEP lists or variations in the spelling, a sanctioned person may be overlooked in your own customer bases. TOLERANT Sanction compensates for this weakness with error-tolerant matching procedures and thus ensures that you are “on the safe side”.

Supported lists (extract)

    • EU lists
    • US lists (DPLUS), which consists of
      • DEB: US List of Statutorily Debarred Parties
      • DPL: US Denied Persons List
      • ENT: US Entity List
      • GO3: US General Order 3 to Part 736
      • NPS: US Nonproliferation Sanctions (9 partial lists)
      • SDN: US Specially Designated Nationals (OFAC) (32 partial lists)
      • UNV: US Unverified List
    • Various lists (DPLAU/DPLUK/DPLJP), which consist of
      • AUS: AU Australia DFAT (Department of Foreign Affairs and Trade)
      • HMT: UK United Kingdom HMT (Her Majesty’s Treasury)
      • MET: JP Japanese End User List METI (Ministry of Economy, Trade and Industry)
    • PEP lists (e.g. from our partner info4c)

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Typical application areas

Check of sanctions lists

Compare customer or supplier data with sanctions lists directly when you enter
the data so that you can potentially find
early hits.

PEP list check when entering data

In parallel, check your data for any names shown on PEP lists and thus comply with
the regulations of the 3rd EU Anti-Money Laundering Directive.

Regularly check the customer master

Sanctions or PEP lists can change on
a daily basis. Regularly check your master data for entries that appear in sanctions and PEP lists. This is the only way to ensure that you are doing things “by the book”. Because, as always: “Ignorance of the law excuses no one.”

White and black lists

After sorting the results of the check, you can enter customers on black or white
lists in order to prevent repeated post-processing for candidates for whom there are hits, to exclude persons, and to thus reduce the financial expenses and risk potential.


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Interested?

If you want to ensure that you are doing things by the book, we can show you TOLERANT Sanction in a web session.Make an appointment