Sanctions as a perennial topic
Since 2002, companies have been obliged by law to conduct a sanctions list check for every business contact,
– regardless of the country in which the customer, supplier or trading partner is located.
No economic resources shall be made available to the listed companies and persons.
Nothing has changed since then – on the contrary. The spectrum of sanctions has widened, the number of sanction lists has increased and thus the topic has become an ongoing issue.
Checking all your business partners against sanctions lists is required by law and punishable by law. Within the EU, all members are also obliged to do so, but implementation may differ in each country.
By now, there are more than 30 sanctions lists that are published by various authorities around the world and are constantly being amended. Last year alone, more than 600 updates were published. The lists contain names of addresses of persons, companies, organisations, banks and ships.
Depending on the legal affiliation of a company, it must make a selection from the lists relevant to it. The US-American lists play a special role.
The lists provided by the authorities worldwide are in a constant state of flux. Not every list is of interest to every company. If you have any questions, please do not hesitate to contact us!
Private lists: Custom company list
This can be a list that is not yet one of SAPPER’s standard lists and therefore has to be generated specifically for the customer, as well as a company’s own list of “bad guys” that are to be excluded as business partners.
In the past year, a total of more than 600 changes had to be taken into account across all sanctions lists made available worldwide. The consolidated list issued by the European Union alone consolidated list alone changed more than 80 times during this period.
After each update of a sanctions list, all your initially checked master data is rechecked against the delta of changes in the sanctions list.
In case of a hit, you automatically receive a warning with all details.
The statement is then true: Once checked, always checked.
For a closed compliance chain within the company, it is necessary to include all data sources containing names and addresses in the check. The point in time from which you have to check names and addresses within the scope of your various processes also plays a role. We are happy to contribute our experience in the run-up to a compliance project. This is to ensure that your project approach has avoided any unintended gaps as far as possible.
A complete documentation of all your activities within the scope of your compliance is the “be-all and end-all”! This is the only way you can prove that you have fulfilled your legal audit obligation. In doing so, it is not only necessary to document each individual audit process. It is also important to prove which activities you undertake within the scope of a hit.
“What matters is what comes out the back.”
Former German Chancellor Helmut Kohl , 1989 in Dresden
“What matters is what comes out the back.”
Former German Chancellor Helmut Kohl, 1989 in Dresden
The SAPPER ALGORITHM is a unique selling point of the software.
The efficiency of the algorithm is widely known and highly appreciated by users.
The technology behind it is one of SAPPER’s best-kept secrets.
The algorithm plays a central role in the sanctions list check:
- It should be as accurate as possible,
- must not trigger any unnecessary false alarms if possible
and should also be fast,
so that the processes are not slowed down.
SAPPER has achieved all three goals with the development of its own algorithm.
In combination with the content prepared by SAPPER itself, a high-performance audit process is made possible for the CUSTOMERS.
This means the highest level of security with minimal work for the compliance officer’s team.
Minimum error rate: 0.1 to 0.3 per mille mis-hits
(depending on data quality)
- Maximum security: hearing and spelling errors are compensated for
- Even non-Western European character sets are recognised and matched
- SAPPER is the market leader in transport logistics
Platform solutions via our data centre
allows individual and mass data checks in a password-protected platform account. Applicable from anywhere in the world on the internet.
specifically for the screening of staff, taking into account the strictest data protection rules. Detached from the in-house IT.
Real-time solutions via database-supported ERP systems with our
VALIDATION GATEWAY SERVER
You prefer your data not to leave your premises? Then our OnPremise solution is just right for you. The VALIDATION GATEWAY SERVER is installed in the customer network and the matching takes place directly there. The data remains within your company. An OnPremise solution can be implemented within one week (in the non-SAP area). RollOut and Implementation
You prefer a cloud solution and do not want to take care of (another) server in your network? Then outsourcing to SAPPER is your preferred method. With the help of technologies via web services, you can have your data checked in the SAPPER CLOUD in Germany.
There are situations that do not allow a pure cloud solution. Then creativity is required when it comes to luckily combining the advantages of the cloud solution with the possibilities of the on-premise solution. Ask us if you would like us to support you in these considerations.
out-of-the-box, fully integrated in own namespace, optional RFC or web service interface.
ODBC-Standardschnittstellen für beliebige Datenbanken.
Real-time check in a 3-second rhythm.
Checks extracted data from any ERP system, even outside the company network. Optional formats .txt or .csv
Integration in any ERP system by the customer himself. Checks in real time via .xml or .json .
The fast way to the right solution
While compliance requirements have the same rules for all companies, the ways to meet them can vary depending on the IT landscape, the size of the company and the fast pace of business.
The art now is to find the right balance between effort and benefit in the context of realisation.
Our basic product dominoWATCH may be the right solution for your compliance activities. To find out, please give yourself the answers to the five questions below. Soon you will know whether you can use dominoWATCH or exclude it in favour of a fully automated solution.
dominoWatch as a basic product - Answer the following 5 questions to find out if dominoWATCH is right for you.
Under certain conditions, our web-based online service dominoWATCH is sufficient for an all-round secure compliance solution that withstands regulatory requirements.
If you can answer all the following criteria with a simple >yes<, then dominoWATCH is your first choice.
- With the BatchOnDemand service, dominoWATCH offers the possibility of uploading an unlimited number of master data for initial verification.
- Can you obtain such an extract in-house for testing?
- Over time, the company names or addresses of your business partners change. In addition, you establish new business relationships. New and changed data require a check. The QuickCheck service offers the possibility to make individual queries within milliseconds.
- Can you ensure internally through organisational instructions that such data is manually checked before it is entered into the ERP system?
- Processes usually contain not only master data, but also one-time addresses or deviating delivery addresses, which are of course also relevant for auditing.
- In case your processes also contain deviating delivery addresses: Can you ensure internally through organisational instructions that these addresses are also checked manually?
- An outstanding feature of dominoWATCH is the DeltaBatch service. All data that has ever been checked in the user account is automatically rechecked against the changes it contains after each update of a booked sanctions list.
This means: once checked always checked!
The check result is sent by email to the user or distribution address.
In contrast to a fully automated solution with a connection to an ERP system, no blocks can be set in the event of a hit:
Can you ensure that the legally necessary precautions are taken on the basis of such hit reports?
- An important criterion for or against the online solution dominoWATCH lies in the assessment of the human resources required by manual entries via the QuickCheck function. The number of master data uploaded via BatchOnDemand is irrelevant, regardless of whether you bring 100 or 100,000 master data for checking.
- Is the number of new installations, changes and one-off addresses manageable for your staff, so that efficiency in day-to-day business is not too strained?
If, as mentioned above, you were able to answer all questions with >yes<, then why not ask us for a quote? You can then start your compliance activities in just a few days without the need for IT resources.
You have realised through our questions that the online platform solutions cannot fully cover your needs? Then please take a look at our real-time solutions via database-supported ERP systems with the VALIDATION GATEWAY SERVER.