As a result of the terrorist attacks of September 11, 2001, the European Community, on the basis of UN Security Council resolutions, issued regulations designed to combat terrorism. Based on these resolutions, the two resolutions 1373 (2001) and 1390 (2002) were also issued in the EU and became legally effective. The sanctions list check concerns not only exporting companies, but also every company located in the EU. They are obliged to check their business contacts and the legality of transactions against the official sanctions lists in accordance with the currently valid legal situation. They must ensure that customers, suppliers and employees are not on sanctions lists. Any contact, let alone sales activities, with persons, organizations and institutions listed there must be avoided without exception!
If a company violates the law on sanctions lists, this is treated as an embargo violation and, in the worst case, can lead to the company itself being placed on one of the sanctions lists. And this often means ruin for the affected company.By matching the address data with the sanctions lists, a company minimizes the risk of unintentional contact with listed groups of people and organizations.
The law does not prescribe how a company must ensure that business contact with the listed persons, companies and institutions is avoided in its embargo regulations. If your company uses a large amount of contact data, you should consider an IT software solution for easier and time-saving handling.
For this purpose, the SAP solution from the area of export control and sanction list check with automated validation, which is integrated in the GTS system, is ideal. In particular, the approach of an integrated solution has the great advantage that all logistical processes are continuously checked and validated. Possible infringements can be immediately prevented by SAP GTS in further logistical processing.
CONSILIO offers you integrated consulting - both for SAP GTS sanction list checks and for the logistic process chains in SAP S/4HANA and ERP.