Global business is becoming more interconnected, and at the same time more complex. To protect companies from unintended and risky business relationships, the European Union has defined clear regulations. One of the most important is the EU sanctions list under Council Regulation (EC) No. 881/2002 of 27 May 2002.
This regulation obliges companies to identify sanctioned individuals and organizations and to refrain from any economic transactions with them. Its goal is to effectively prevent the financing of terrorist activities and other threats to international security.
What does this mean in practice?
Regularly screening customer and business partner data against the EU sanctions list is not optional – it is a legal requirement. This is exactly where our new Odoo solution comes into play:
RS EU Sanctions List
Our add-on enables you to:
- Automatically screen data against the EU sanctions list
- Define individual alert levels depending on risk and relevance
- Trigger internal processes directly in Odoo, for example by creating tasks or follow-up actions
While the sanctions list itself must be updated manually in accordance with legal requirements, our tool takes care of everything else. For medium-sized businesses, enterprises, and public institutions, this means a significant reduction in manual effort – and a much higher level of compliance security.