Thomson Reuters ONESOURCE Global Trade aims to streamline every aspect of the regulatory and compliance experience for companies across the globe. To accomplish this, we have to stay on top of the ever-changing global trade landscape and maintain the most comprehensive, up-to-date data available. With our recent partnership with Dow Jones, ensuring compliance just got easier.

The U.S. Office of Foreign Assets and Controls (OFAC), along with several other agencies, requires that companies block not only entities and parties on the Sanctions List, but also companies who are owned, totally or in part, by those blocked entities. Dow Jones now provides us with their Sanctions Beneficial Ownership List to enhance our ONESOURCE Global Trade Denied Party Screening tool. While we have access to hundreds of government lists of denied entities, the Dow Jones’ Sanctions Beneficial Ownership List goes one step further by associating denied entities with companies owned by those individuals or parties. This partnership offers a more robust screening process against sanctioned entities for compliance professionals.

“It is critical that companies are screening their suppliers, end users, and all parties in each import and export transaction for Sanctions and Beneficial Ownership,” said Angela Chamberlain, vice president of global trade content. “This partnership with Dow Jones will allow ONESOURCE Global Trade clients to continue to screen against denied entities, but now also screen for companies that are owned by denied entities.”

Denied Party Screening enables companies to adjust for specific sanctioned parties that impact their import and export environments, empowering them to prevent supply chain disruptions and demonstrate due diligence. Now, companies will be able to access insights from the Sanctions Beneficial Ownership List in the same central content database that houses our other restricted lists within the Denied Party Screening solution.

The addition of the Sanctions Beneficial Ownership List transforms our Denied Party Screening interface into a truly global solution that minimizes penalties that are too-often associated with international trade. With constantly updated denied party lists available at the touch of a button, your company can avoid supply chain disruptions and loss of export privileges by remaining compliant with OFAC and other international agencies.

For more information on the breadth and functionality of the Thomson Reuters ONESOURCE Global Trade Denied Party Screening solution, visit our page.