Compliance Management

Doing business with a person or company on a sanctions list creates liability even when it goes unnoticed. Screening after the sale does not help; the check has to happen before the transaction starts.

Compliance Management places that check at the moment of sale. The customer’s name or company title is entered; the system screens the OFAC, EU Sanctions and United Nations sanctions lists together with the asset-freeze lists published by the Turkish Ministry of Treasury and Finance. On the Turkish side, records under Articles 5, 6 and 7 of Law No. 6415 and Articles 3/A and 3/B of Law No. 7262 are included in that screening. Whether there is a match appears on screen, and the team decides there whether to proceed.

Every query is stored with who ran it, when, and what the result was. When an audit or internal control asks, the report is produced from those records. Nobody has to go back and investigate whether a given customer was ever checked.