Würth Logistics - Sanctions List Screening
Checking business relations - compulsory for all companies
The federal authorities turn up unannounced, demand access to your records, and seize computers. But why?
Suspicion of business relations with terrorism suspects.
Surely this cannot affect you, can it? After all, you are not an exporter. – This can be a grave error with serious consequences.
Every company must ensure that it does not maintain any kind of business relations with companies, organizations, or persons that are on official sanctions lists. If a company fails to meet this obligation and enters into a business relationship with a listed partner – even if the company in question is not aware of any issue at the time – this is classed as a offense and is punishable by the authorities in the form of both fines and imprisonment. For exporting companies, violating sanctions can also lead to withdrawal of their AEO status as an “authorized economic operator” or to a temporary or permanent loss of customs permits for simplified customs declarations. In the worst case, a company can even find itself on a sanctions list.
All authorized economic operators that are in contact with a company must therefore be checked. This not only includes customers, but also suppliers, service providers, and employees. In addition to this, you must perform a sanctions list screening before sending out an offer or bid.
Telefonnummer: +41 71 421 72 49
Telefonnummer: +49 7940 93792 40