Anti-Terrorist Screening Obligations:

    View Authors January 2015

    As a result of the terrorist attacks on 11 September 2001, the European Union has also increased its counter-terrorism efforts. The goal is thereby to block the economic activities of terrorists amongst other things. Private sector companies should also provide support in this regard by preventing cash flows to persons or organizations named on anti-terrorism lists. The so-called prohibition of aid principle has been laid down in the EU anti-terrorism regulations.According to this principle, it may be prohibited to hire, employ or pay wages to suspected terrorists. This obligation not only exists for banks and financial service providers but also in principle for all EU related companies and above all for any such companies involved in foreign trade. According to surveys, many companies are unaware of this fact or simply fail to comply with the existing obligations.