Introduction
There is no single sanctions list that applies worldwide. Which lists matter depends on the business model, the customer base, payment routes and international relationships.
Why do sanctions lists exist?
They are used to implement economic and political sanctions and may include asset freezes as well as bans on payments, trade or investment.
SECO
SECO is the central national reference for Swiss companies and should generally be taken into account in Swiss screening processes. See SECO sanctions list explained.
OFAC
OFAC can be relevant for US dollar payments, US banks, American counterparties and international supply chains. See OFAC sanctions list explained.
United Kingdom
The UK Sanctions List is an independent source and can matter for British customers, suppliers and financial relationships. See UK sanctions list explained.
United Nations
UN sanctions have international significance and often form the basis for national implementation. See UN sanctions list explained.
Why more than one list?
A person or organisation may appear on one list without being listed on others. Several sources broaden coverage. One example is the EU sanctions list, which can be relevant for business relationships with an EU connection and does not have to match the SECO and OFAC lists.
When and whom to screen?
Before new business relationships, when circumstances change and periodically. Besides companies, beneficial owners, board members and controlling persons can be relevant. An introduction is provided in the article What Is Sanctions Screening?
Conclusion
For many Swiss companies, SECO, OFAC, UK and UN form a solid basis. The actual selection remains risk-based.