This paper discusses the nature and importance of financial and trade sanctions and sanctions screening. Sanctions are measures implemented by governments to restrict or prohibit trade with parties involved in illegal activities, while sanctions screening is a process that detects potential matches between organizational operations and global sanctions lists. Despite its simplicity, sanctions screening is complicated by multiple variables such as international languages, culture, spelling, aliases, and technological limitations.

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To be successful in business, you need business partners: customers, vendors, employees, etc. But you shouldn’t pick them blindly – you should monitor risks associated with them once you engage. Business partner screening is a due diligence process that organizations undertake to evaluate the risks associated with engaging with other businesses, such as suppliers, clients, or partners.