Sanctioned Party List Screening

SAP integrated Sanctioned Party List Screening


Requirement

Screening of sanctioned party lists and embargo lists is mandatory for every company and a business-critical factor. These lists list persons and organizations to whom neither money nor goods may be made available. There are a large number of official sanctioned lists around the world, which are constantly updated, expanded and adjusted. However, a legally compliant reconciliation of the lists with the data in the SAP system on a manual basis is very time-consuming and also prone to errors.

Solution

A solution from a specialist provider that integrates into the existing SAP software (SAP ERP or SAP S/4HANA) and checks the addresses of all business partners in SAP documents and in master data (when created or changed) against sanctions lists in an IT-supported, automated and thus efficient, transparent and legally compliant manner solves this problem. The solution provides all common sanctions lists for Europe, the USA and Japan. An automatic update service ensures that the lists are kept up to date, so that the latest version is always used during a screening. The lists provided by the solution can also be supplemented as required with sanctions lists from special content partners such as Reguvis and Dow Jones. This means that every company can use the list packages that precisely meet their individual requirements.

If a screening identifies potentially suspicious addresses in SAP sales and purchasing or delivery documents, the software automatically triggers predefined processes, such as blocking the affected objects, while also notifying the responsible employee by e-mail. The solution includes a screening algorithm that reduces the number of false positives to a minimum. By configuration, it is possible to set flexibly and according to one's own requirements whether a barrier is set and the type of barrier, whether the barrier is dependent on the SAP client or the SAP organizational unit and when a barrier is lifted. For sales documents, a barrier can be set for the entire document or only for individual items.

WSW Software supports the implementation of this screening for sanctioned party lists in SAP and an IT-supported, automated, legally compliant sanctioned party list screening with comprehensive consulting and services. This includes the clarification and definition of the relevant legal requirements and ranges from the selection and provision of the required sanctions lists to the technical implementation in the business processes. Customs and foreign trade experts from WSW Software support the customer in addition when it comes to performing tests and preparing for go-live; if desired, they can also take over the support after go-live.

 

Consultation

Would you like to learn more about the Sanctioned Party List Screening? We look forward to advising you. Please feel free to call or e-mail us.