The tragic situation in Ukraine has shocked the world. In response to Russia’s invasion, the UK, US, Europe, and many other countries around the world have imposed and enforced the largest ever set of economic sanctions on Russia and Belarus.
Although the vast majority of UK companies are unaffected, we are finding that organisations want to be able to scrutinise their customer base for a number of reasons:
- Offering support to companies with Ukrainian links
- Being aware of companies with links to newly sanctioned countries
- Identifying UBOs from sanctioned countries or organisations
- Reacting quickly to regulatory change•Monitoring their book of business for change
FullCircl have been helping customers in a number of these areas, and have also made some free data extracts available to help anyone navigating the challenge.
1. Ukraine Crisis Offers:
Report of companies with Ukrainian links
Some of our customers have said that they want to offer their support to UK organisations with directors or parent organisations who may have been affected, so we’re making a list available to all customers. This includes companies with:
- Directors who are Ukraine nationals
- Directors who are registered as being resident in Ukraine
- Ukrainian companies in their hierarchy
2. Report of companies with Russian or Belarusian links:
We also have a list of UK companies with ties to Russia or Belarus (using the same criteria as with Ukraine) – this could be useful to help assess exposure.
Speak to your Customer Success Manager if you would like access to either of these reports
Company Ownership & UBOs
In the FullCircl Engage app you can quickly discover organisational hierarchies or ownership. When searching for a company, look out for Ultimate Parent and Parent flags on the Briefing page.
You can also review the Company Graph Explorer functionality to dynamically explore national and international linkages.
FullCircl Connect customers
You may want to consider adapting the rules you have set up to screen and monitor companies with links to these companies. Our support team can help with this.
FullCircl API customers - UBO Endpoint
If you use the FullCircl API, the UBO Endpoint helps identify trading relationships in complex hierarchies. The endpoint automatically traverses digitised shareholder information, giving immediate access to insights that would otherwise require manually going through chains of ownership stored in documents at official company registers.
We combine this data with group structure, PSC and director data, giving you information about who really own and run the companies you are dealing with, what their nationalities are and where they are based.
Quick Tip: If you already have the endpoint, run a remediation exercise using the UBO Endpoint against your client base.
Other Sanctioned Countries
Recent activities have focused on the current conflict, but at the time of writing there are 22 other sanctioned countries which you may want to monitor, including Afghanistan, Democratic Republic of Korea, Iran, Libya, Myanmar, Syria, and Yemen.
Watchlists & Watchlist Filters
Watchlists can be set up to follow specific sets of companies based on the criteria you specify. For FullCircl Engage customers, if you have companies in your portfolio which represent a specific risk or need closer ongoing monitoring, set up a watchlist and check your daily alerts for potential risks or opportunities to help them out.
Quick Tip: Create distinct watchlists to let you get granular with Topic Filters and surface only articles of key importance to you (e.g. related to the current conflict).
Talk to us to see if we can help
Email firstname.lastname@example.org or speak with your Customer Success Manager