Companies are legally required to regularly check their business partners against sanction lists to ensure that they do not conduct business with sanctioned individuals, groups, or organizations. This obligation arises from various EU regulations and the Foreign Trade and Payments Act (AWG).
The most important legal bases include:
- EU Regulations: In particular, Regulation (EC) 881/2002 and Regulation (EC) No 2580/2001, which establish restrictive measures against certain individuals and organizations.
- UN Sanction Lists: These serve as the basis for European and national sanction lists. All UN member states are required to avoid the listed individuals.
Companies must ensure that they regularly conduct sanction list checks. This includes matching data about business partners or employees with the entries in the relevant sanction lists.
With 365 business Sanction Screen, companies can automate their sanction list checks and ensure that they meet legal requirements. The solution enables the integration of sanction list checks into daily business processes and helps companies minimize risks and avoid compliance violations.
Thanks to the integration into Microsoft Dynamics 365 Business Central, companies can perform their sanction list checks directly in their ERP system. The solution offers seamless integration into the user interface of Microsoft Dynamics 365 Business Central and allows users to perform sanction list checks directly from the system.
Benefits of 365 business Sanction Screen:
- Comprehensive Coverage: Conduct sanction checks with over 240 data sources, including:
- EU CFSP - Consolidated List of Persons
- EU RUSK - Russia Capital Market Embargo
- EU RUSD - Russia Dual-Use Goods Embargo
- EU Financial Sanctions Files (FSF)
- US SDN - Specially Designated Nationals and Blocked Persons List
- US OFAC Specially Designated Nationals (SDN) List
- Automation: Fully automated sanction checks with configurable intervals for each entity.
- User-Friendly: User-friendly visualization of possible matches and configurable notifications in purchase and sales documents.
Learn more about using 365 business Sanction Screen:
Learn more about the setup: