Sanctions Screening
Klervex screens trading parties against sanctions lists to prevent transactions with restricted entities.
What Is Sanctions Screening?
Sanctions are restrictions imposed by governments on trade with specific countries, entities, and individuals. Violating sanctions can result in severe penalties including fines and criminal prosecution.
Lists Screened
| List | Authority | Scope |
|---|---|---|
| OFAC SDN | US Treasury Department | Specially Designated Nationals (individuals and entities) |
| OFAC Consolidated | US Treasury Department | All OFAC sanctions programs combined |
Additional lists planned:
- EU Consolidated Sanctions List
- UK Sanctions List (OFSI)
- UN Security Council Consolidated List
How It Works
- When you validate a shipment, party names are checked against sanctions lists
- Matching uses fuzzy matching to catch variations in name spelling
- If a match is found, validation fails with a specific error message
What Triggers a Match
- Exact name match
- Similar name (fuzzy matching for spelling variations)
- Known aliases listed in the sanctions database
What to Do If a Match Occurs
- Verify — Check if the match is a false positive (common names)
- Investigate — If the match seems legitimate, consult your compliance team
- Do not proceed — If the match is confirmed, do not complete the transaction
Data Updates
Sanctions lists are updated weekly:
- OFAC SDN list is refreshed every Sunday at 4 AM UTC
- Changes are automatically propagated to validation rules
Limitations
- Screening is advisory, not a legal guarantee
- False positives are possible with common names
- Consult a trade compliance specialist for complex cases
- Klervex screens against name only, not addresses or other identifiers