TradePoint Adds 'Bank of England Consolidated List' to International Restricted Party Screening Capabilities

8 July 2004

TradePoint Systems has announced the expansion of international restricted party screening content lists within its ECS application to include the “Bank of England Consolidated List”. The Bank of England is the central bank of the United Kingdom. The Bank works to ensure that the UK financial system provides effective support to the rest of the UK economy. In doing so, the Bank of England provides a consolidated list of targets that have been listed by the UN, EU and UK under legislation relating to Afghanistan (Taliban, Usama Bin Laden and Al-Qa'ida), Burma/Myanmar, Federal Republic of Yugoslavia & Serbia, Iraq, Terrorism and Zimbabwe.

TradePoint’s ECS product is an online solution that provides real-time exception-based compliance screening service to public and private organizations to ensure proactive due diligence of international business transactions. Specifically, ECS performs mandated government compliance screening for Restricted Parties, Embargoed Countries, and Export License Determination. In addition, ECS also checks for "red flag" indicators to screen "end use", as well as "end users". ECS can be accessed manually through an Internet browser for low volume users or it can be integrated with legacy or ERP systems for high volume users.

“Our ECS product automates the process associated with collecting, loading and managing global commerce rules, content and regulations that impact global trade compliance, including license screening”, said Ken Halle, Chief Operating Officer at TradePoint Systems. "TradePoint will continue to deliver the efficient international trade solutions required for our customers to effectively compete and comply globally.”