Financial Sanctions Register checking service now available online for NRS customers

Financial Sanctions Register checking service now available online for NRS customers


London-based technology firm, Linksfield Techologies, has announced the launch of a jointly branded Financial Sanctions Register (FSR) Checker system with National Regulatory Services (NRS).

As part of the agreement, Linksfield will offer NRS’ customers access to Linksfield’s Online FSR Checker which will be co-branded, enabling NRS customers to remain compliant with UK sanctions legislation.


The Financial Services Authority recently warned small and medium sized institutions that controls need to be improved in order to avoid doing business with members on the Government’s “blacklist” of financial sanctions.


The blacklist is managed by the Treasury and consists of around 1,400 individuals and 500 entities linked to terrorist financing in Britain and abroad. 


Software like the Financial Sanctions Register (FSR) Checker is designed to help smaller businesses compare their customer lists with updates from the Treasury’s list of financial sanctions targets.


The FSR Checker can either run on site (integrating with other back office systems and facilitating batch processing), or give an online, web-based version targeted primarily at brokers who want to do ad-hoc searches.


Both versions produce the necessary reports to evidence to the FSA that appropriate searches are being run regularly against the blacklist.


Mark Posniak, Linksfield’s Head of Business Development, said: “With all the current talk of legislation and potential penalties for getting sanctions checking wrong, we are delighted to have launched the jointly branded web-based FSR Checker to help reduce the burden for NRS clients.”


Gordon McMurray, Managing Director of NRS, added: “Deciding to implement the NRS/Linksfield FSR Checker system was a real no-brainer for us. We are acutely aware of the legislative requirements for our clients and we are pleased to now have a cost-effective and easy-to-use offering for them, on advantageous commercial terms.”

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