Trademo , a global supply chain intelligence company, has launched an online screening tool that keeps track of global trade sanctions.
Sanctions Screener lets businesses screen their suppliers, customers, vendors, and employees to stay compliant with international regulations and protect themselves from sanction violations.
In 2022, the total number of sanction additions, removals, and updates rose by a record-breaking 57 percent over the previous year, resulting in significant supply chain risks.
Trademo Sanctions Screener includes global sanctions data gathered from 500+ sources to provide comprehensive sanctions risk coverage for businesses. This data can be accessed with a search algorithm featuring unparalleled cross-language name-matching capabilities that ensure organizations never miss out on information about any restricted entity.
All of Trademo Sanctions Screener’s data is updated every hour. The watchlist feature can be used to send notifications each time any individual or company of interest is added to a global sanctions list. Businesses can also conduct bulk screening for thousands of trade partners in a few clicks.
“Over the past year, UN, OFAC, and EU sanction lists were updated, on average, every 22 minutes. Given the current geopolitical climate, this trend is likely to continue. In 2022, new sanctions against entities and industries ranked as the number one risk for global businesses,” said Shalabh Singhal, CEO and founder at Trademo.
“Keeping track of these updates manually is quite difficult. With Trademo Sanctions Screener, businesses can track and monitor global sanction lists to avoid sanctions’ violations and mitigate future sanctions-related risks.”