Automate more, worry less
Keep up with ever-changing restricted party data
The average person may not give much thought to the journey a product takes to get in our hands, but those responsible for compliance do. Businesses and organizations operating on a global scale are legally bound to screen their trading partners to ensure they are not restricted parties on embargo, economic sanctions, or other government lists.
The stakes are high. Failure to comply can have drastic consequences, ranging from loss of privileges, heavy fines, and even imprisonment of employees and executives.
With the typical trading community expanding every year, and the list of restricted parties being updated daily, it is near-impossible to keep up without automation.
That’s why companies trust BluJay’s Restricted Party Screening, an Augmented Global Trade-enabled solution, to automate the process. Restricted Party Screening (RPS) – also available in a mobile app – runs the checks in two key ways: transactional and master data, proving audit trail and resolution workflows for both.
Spot Screening is transactional, providing real-time due diligence for key processes, including via API calls from third-parties’ software.
Community Screening starts with a master data module for Parties, which can accommodate RPS compliance and/or customs management and adds an automatic restricted party screening process, monitoring the changes in content and master data. This includes nearly 100 lists worldwide including Dow Jones’ majority-owned research list (SOR).
Compliance teams everywhere can rest easy with algorithms and automation like this.