Criminal investigators appear at your company out of the blue, demand to see your business communications and confiscate your computers. You are suspected of maintaining business relations with terror suspects!
Does that sound like a scene from an action movie to you? It’s closer to reality than you think.
Since the attacks of 11 September 2001, the European Community has adopted the counter-terrorism regulations (EC) no 881/2002 and no 2580/2001. Their aim is to deprive terrorism of its financial and economic resources and thus to fight it consistently. Against this background, the US authorities and the EU, among others, publish so-called sanctions lists with an overview of sanctioned persons, organisations and companies.
Do you think your company is not affected because you do not export abroad?
This is a fatal mistake, because all companies are obliged to carry out complex auditing measures. Business addresses must be checked against existing sanctions lists. This means ensuring that business contacts are not on a sanctions or anti-terror list.