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Belgium Firms Face Risks from Sanctioned Business Partners
Warning for Companies Operating in Belgium
Companies operating in Belgium are being urged to be aware of the risks associated with working with sanctioned or blacklisted business partners. These risks can have a significant impact on their reputation, sustainability, and performance.
Consequences of Non-Compliance
Governments and international bodies are cracking down on companies that engage with sanctioned third parties, imposing heavy fines and reputational damage. The consequences can be severe, including being banned from public tenders.
Sanctions Screening is Crucial
Having timely clarity and confidence about sanctions imposed on counterparts is essential for businesses to identify potential risks. Our dedicated forensic team has the necessary data sources and tools for conducting sanctions’ and watch lists’ screening across multiple jurisdictions.
“We recognize that the sanctions landscape is continuously evolving and becoming more complex than ever before,” said a spokesperson. “Our team can help you navigate this challenging environment and ensure compliance with relevant regulations.”
How We Can Help
We offer a comprehensive approach to sanctions screening, including:
- Discussing and agreeing on the set of sanctions lists for screening with clients
- Engaging trusted external data providers to pull together lists of sanctioned entities
- Using algorithms to match third-party lists with sanctioned entities
- Performing manual review of identified matches to minimize false positives
Packages Available
Each package is valid for 365 days from the date of purchase and can be used for initial screening as well as re-screening. Our packages cater to different needs, providing flexibility and convenience.
Specialized Services
In addition to sanctions screening, we offer specialized services such as:
- Integrity Due Diligence
- Pre-employment Screening
- Sanctions Screening
These services help organizations identify potential risks and make informed strategic decisions.
Preventing Reputational Damage
By working with us, businesses can prevent reputational damage associated with sanctioned business partners. Our team has the expertise to navigate complex sanctions landscapes and ensure compliance with relevant regulations.
Don’t let sanctioned business partners put your reputation at risk. Contact us today to learn more about our sanctions screening services and how we can help you maintain a safe and compliant business environment.