The British Insurance Brokers’ Association (BIBA) has launched a sanctions checking facility to assist members comply with their obligations under the Terrorism Act and the FSA financial crime requirements.

The body says the new facility provided by Sanctions Search will enable members to ensure that their client list is screened against HM Treasury’s UK Consolidated Financial Sanctions List on a regular basis, including an option to extend checks to the Office of Foreign Assets Control (International List).

The facility is being funded in part by BIBA as a member benefit and says that “competitive rates”” have been negotiated on behalf of members. All members will be pre-registered including a number of ‘free’ search credits.