The SQA CTRP list is a tool for mitigating the risk of performing business in countries that you would prefer not to be doing this business with. They might be countries that are prohibited from a sanction standpoint or are just seen as too high risk.
There have been many fines over sanctions issues since the 2001 watershed moment that resulted in OFAC taking a hard line on enforcing its sanctions regimes. Most of the fines have been levied not against breaches of transactions to named persons, but of transactions to specific geographies, principally Iran & Cuba, but also Syria, Crimea & North Korea.
A CTRP list is a gazetteer of the major places within a set of high-risk countries, by screening your customers & transactions against it, you may find a business in those places that you could otherwise be ignorant of.
SQA Consulting provides a customisable CTRP designed specifically for banks to mitigate their risk. You determine how far you want to look, either through our comprehensive lists or with our top ten / top twenty screening terms lists. Every country is covered (& key regions) so no matter which place is next on the undesirable list, we have it covered.
Get in touch via aml-prevention.products@sqa-consulting.com for more information.
Customisable CTRP designed specifically for banks to mitigate their risk.
