Biba offers sanction checking facility to members
The British Insurance Brokers’ Association (Biba) has launched a sanctions checking facility to help members comply with their obligations under the Terrorism Act and the Financial Services Authority’s (FSA) financial crime requirements.
The new facility provided by Sanctions Search will enable members to ensure that their client list is screened against HM Treasury’s UK Consolidated Financial Sanctions List on a regular basis, including an option to extend checks to the Office of Foreign Assets Control (International List).
The facility is being funded in part by Biba as a member benefit and the tradebody claimed that competitive rates had also been negotiated on behalf of members. All members will be pre-registered and
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