Compliance with the sanction guidelines
The Federal Republic of Germany, by virtue of its membership of various international bodies, has for a long time been obliged not to carry out sales of goods which could have a negative-enhancing effects in crisis areas or contribute to human rights violations.
In addition to the necessary examination as to whether deliveries of certain goods are prohibited or subject to authorization and whether they are from embargoed country, the trading companies are subject to a further inspection to ascertain the condition that is applicable to the goods.
As a result of the terrorist attacks of 11.09.2001, laws and regulations have been issued in many countries prohibiting business transactions with persons, associations, organisations or companies suspected of being in contact with terrorist suspects, groups and organisations (Al-Qaeda , Taliban, etc.). The prohibition of financial transactions or economic resources is intended to remove the economic base of these terrorist groups.
Sanction lists, which is also called anti-terrorist regulations or terrorist lists, are published and updated by different countries and institutions at a regular interval.
If a company fails to examine these embargo-list and conducts transactions with sanctioned groups, persons or institutions, the consequences of economic fines are extended to the deprivation of liberty under §34(4) and (7) of the Foreign Trade Act (AWG).
With Pythia, we provide you with a tool that allows you to perform a compliance screening in a simple way without multiple data collection and with limited central use.
Related Links: Product sheet (german)