Since mid 2003 Global Wizard has offered Denied Party Screening Services as part of the full Global Wizard software suite. “In the beginning” – our beginning – the lists we tracked and offered contained about 8,000 names. Today that’s closer to 62,000.
Commonly called Restricted Party Screening, Denied Party Screening is the best method to ensure your company is not shipping goods to individuals or companies who by law should not receive them. An automated/computerized screening system is the most efficient means to achieve the screening.
Many software providers provide similar services. We’d like you to contact us to see what differentiates us. One such reason is that we store your searches with other information about your individual shipment, and those search results are recallable as snapshots later in time – fantastic for audit capability.
Restricted Party Screening often seems like a “feed the beast what it eats activity,” and we actively work to make this as painless as possible. After all, RPS is a very important aspect of trade compliance.
It is the responsibility of every organization to know its customers; if the organization engages in global trade, part of that obligation is to ensure that who you are selling to or, in an even broader sense, anyone you are partnering with, is not on a restricted party list. And that is where things can potentially become difficult. On a global basis, the number of RP lists has grown dramatically over the years, and the number of people, parties, and entities on the lists is easily over 60,000. Lists are maintained by the State Department, the Treasury Department, and the Department of Commerce, as well as international entities such as the United Nations, the European Union, and Interpol. Failure to comply can lead to civil or criminal prosecution resulting in hefty fines and potential prison sentences, as well as denial of exporting privileges.
The source article centers on new partners, but with the fluctuation of the list, keep current in your screening policies and activity.
Contact Us and learn about our web service data integration for Restricted Parties Screening and also our batch screening and in-software capabilities.