Many governments forbid the exchange of commodities, technical data, or services with certain parties or entities that are deemed irresponsible traders or a threat to national security. Many government agencies around the world publish entity lists and trade restrictions, leaving companies to find ways to screen against these growing lists of denied parties without impacting productivity.
The TradeSphere RPS software provides a solution to this challenge by enabling global traders to screen their customers and suppliers against denied parties lists. Livingston consolidates more than 80 lists from governments and organizations around the world into one central database that is monitored and updated daily to assist clients with compliance. This provides a single source for restricted party data from around the world and reduces compliance exposure by providing a comprehensive view of embargoed parties listed by the U.S., Canada, the European Union, the United Nations and many other countries.
With the TradeSphere RPS software, you can:
- Screen trade partners manually through the web interface, perform automated high-volume screening integrated with your enterprise resource planning or legacy system, and automate re-screening when there is a government update applied to international regulatory lists.
- Process screening requests through a series of advanced algorithms that accurately identify possible name variations and isolate potential issues; if a potential match is identified, you are automatically notified and screening results are entered into a work queue.
- Have all search results recorded in a central database, including the dates and actions taken by users to override a result, providing detailed compliance screening reports to satisfy government audits.