Sanction lists and watchlists are lists of problematic entities (usually people, companies or vessels) that have been identified by relevant government authorities and are targeted for asset freezing or prohibited from doing business in that country or with nationals of that country, whether they are people or companies.
Usually the lists concern individuals and companies owned or controlled by, or acting for or on behalf of, targeted sanctioned countries. They also list individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific, but concern law enforcement or national security. In the U.S. such individuals and companies are called “Specially Designated Nationals” or “SDNs.” Their assets are blocked and persons are generally prohibited from dealing with them.
KYC3 automates the list checking process by allowing a full text search of most of the lists published worldwide with a single click. If there are any hits, further investigation and a risk based assessment can be made.
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