Why do we do sanctions checks?

Political sanction

The consequences of being found guilty of sanctions non-compliance are severe. Some major financial institutions have been sanctioned with multi-million dollar fines and settlements with U.S. and U.K. regulatory agencies for sanctions non-compliance.

Insurers are also concerned about the impact of sanctions violations. Lloyd’s of London examined the issue following suspicions that some members may have breached international sanctions through insurance and reinsurance contracts. In turn, increasing pressure is being placed on exporters of products and services to ensure that they do not expose their creditors and insurers to sanctions risks.

Sanctions as a regulatory compliance issue came to light when several international companies were identified by the UN as having failed to comply with sanctions against Iraq under the Oil-for-Food program. Numerous oil and gas utilities, infrastructure and engineering companies were consequently prosecuted and convicted of sanctions non-compliance.

International economic sanctions

Citizen security is the guarantee that the rights and freedoms recognized and protected by democratic constitutions can be freely exercised by citizens and not mere formal declarations lacking legal effectiveness. In this sense, citizen security is one of the essential elements of the rule of law.

Social demands for citizen security are essentially addressed to the State, since there is an appreciable social awareness that only the State can ensure an environment of coexistence in which the exercise of rights and freedoms is possible, through the elimination of violence and the removal of obstacles to the full exercise of those rights and freedoms.

It is in the light of these considerations that the idea of citizen security and related concepts should be interpreted, avoiding generic definitions that justify an expansive intervention on citizens by virtue of undefined dangers, and avoiding a generic administrative discretion and sanctioning power.

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Examples of commercial embargoes

During the first months after the entry into force of the Time and Attendance Law, 189 fine notices were issued, and later 980 companies ended up with a penalty report. In total, from April to October, 5,363 proceedings were registered due to non-compliance. And the average fine? Around 1,057.76 euros.

On March 12, the BOE published in the Official State Gazette what would have to be complied with the following May 12; the Law on Hourly Control. This new regulation made it mandatory to keep a time record of employees and their working hours, to keep this time record and to make it available to workers, among other things.

Importance was also given to the method of compiling this record, as those who allow anyone other than the employee to modify this record are not allowed to do so. But beware! If the company decides to implement a digital time recording tool, it must respect the Personal Data Protection Act.

The time record must include the start and end time of each working day, whether it is flexible or not, or whether the employee works from the office or remotely. And all companies and workers must comply with this regulation, unless they are exempt from it.

UN Sanctions List

The principle of Freedom of Transit: the transit and stay of persons and vehicles is free throughout the national territory and exceptions can only be established by law for reasons of general interest.

They are basic and minimum rules that regulate in a uniform way the vehicular transit in all the territory of the country (national scope); each Municipality will take measures to ensure that they are complied with in its territory.

They regulate: vehicular traffic, speeds, overtaking, passing preferences, turns, parking, railroad crossings, cargo transportation, pedestrian traffic, vehicle safety conditions, driver’s licenses, traffic disturbances, road incidents or accidents and compulsory insurance, violations and penalties, etc.-.

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It is the system created for information, analysis and evaluation purposes, coordinated by the Congress of Mayors and the National Road Safety Unit, being the Municipalities in charge of its management, granting, registration, control and application of sanctions.

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