AEB’s portfolio of restricted party lists has been extended with the China Ministry of Commerce (MOFCOM) Unreliable Entity List. In case this list is relevant for your company, and you wish to include it into your AEB Compliance Screening software, you can license the MOFCOM Unreliable Entity List in addition to your already existing content.
What is the meaning of this restricted party list?
Foreign entities, listed on this restricted party list are subject to the Provisions on the Unreliable Entity List and various measures, such as provision or prohibition of Import and Export activities, imposing fines. The measures imposed are individual and may vary. Individuals and methods of transport may also be added to the MOFCOM Unreliable Entity List. The Ministry of Commerce Unreliable Entity List (MOFCOM) provisions are summarized by trade compliance experts and various media publications goal as protecting People’s Republic of China's business and government interests. The MOFCOM Unreliable Entity List is also reagarded as a reaction to sanctions imposed by the United States of America. The legislation the list is based on was introduced in year 2020, the first lisitings took place in 2023.
Which companies need to screen against this List?
Screening against the MOFCOM Unreliable Entity is relevant for companies based in the People’s Republic of China. A screening can also be relevant in case of contractual obligations or because of Company Compliance Policies.
Do you need to license this list if you use third-party content in Compliance Screening?
If you screen your business partners against restricted party list content from third parties (such as Reguvis or Dow Jones) in your AEB Compliance Screening application, the MOFCOM Unreliable Entity List may already be included in your content. In that case you do not need to license this list separately or additionally. For more information, please contact your content provider directly.
Efficient restricted party list screening – MOFCOM Unreliable Entity List and more: How can AEB help?
Compliance Screening takes care of restricted party list screening against the MOFCOM Unreliable Entity List and does this automatically in the background – also integrated into SAP®, Salesforce, Microsoft Dynamics 365, and other ERP and CRM systems on request. For an overview of restricted party lists available from AEB refer here.
- If you would like to include the MOFCOM Unreliable Entity List in Compliance Screening, please request a non-binding quotation or contact our product experts.