Sanctions legislation and regulations
There are restrictions on importing products and doing business with certain individuals and organisations. Direct or indirect business transactions, of any kind and in any currency, are not allowed. Sanctions apply to the following countries:
- Cuba
- Iran
- North Korea
- Sudan
- Syria
- Russia
- Belarus
- Russian-occupied regions of Ukraine: Crimea, Donetsk, Luhansk, Zaporizhzhia, and Kherson
- Libya
- Myanmar
- Somalia
Specially Designated Nationals List of the Office of Foreign Assets Control (OFAC)
In addition to the specific restrictions for the countries listed above, we do not carry out direct or indirect transactions of any kind or in any currency if they are related to individuals or organisations named on the United States sanctions list (Specially Designated Nationals List), maintained by the Office of Foreign Assets Control (OFAC).
Client screening
In the diploma evaluation application form at My IDW, applicants must state their nationality. If the applicant has the nationality of a sanctioned country, we will first carry out a client screening to assess whether the risk is acceptable. The application can only be submitted and paid for after the screening shows that the risk is acceptable
Sanction risk identified during client screening
If we find that the applicant’s identity matches a person or entity listed in the sanction’s regulations (a so-called ‘hit’), we will report this immediately to De Nederlandsche Bank (DNB).