5. How do I check if my client is sanctioned, and how often should I do this?

You must periodically screen your clients against official sanctions lists maintained by organisations such as the Office of Financial Sanctions Implementation (OFSI).

Initially, this check should be conducted during client onboarding, and thereafter at regular intervals, especially during long-term engagements. Utilising automated sanctions screening software can streamline this process, providing regular updates to ensure continuous compliance. Immediate reporting to OFSI is required if a potential sanction violation is detected.