Passthrough Sanctions

With KYCC, companies would look into the likelihood of any Passthrough Sanctions via their counterparties. A breach with this type of sanction can occur even if your vendor, supplier or counterparty is not specifically on a sanctions list. You would be at risk and bear significant responsibility in the form of fines, penalties and reputational damage if your counterparty is doing business with a sanctioned individual or organization.


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Explore other KYC terminology in Avallone's KYC dictionary.