Project Work on Consumer Behavior in Fast Food Restaurants. Their behavior to...
Data Quality and Compliance
1. WHITE PAPER: COMPLIANCE
WHITE PAPER /
Sanction Lists – A Business Risk
EU anti-terrorism regulation and sanction lists firmly in hand:
options for the technical implementation of statutory provisions
UNAVAILABLE OR UNSATISFACTORY PROCESSES FOR MATCHING CUSTOM-
ER AND PROSPECT DATA AGAINST SANCTION LISTS - A FREQUENTLY UN-
DERESTIMATED BUSINESS RISK ENTAILING THE PERSONAL LIABILITY OF THE
MANAGEMENT
The implementation of the statutory provisions of the EU anti-terror-
ism regulation is still a widely discussed aspect in the context of
data quality. This regulation prohibits financial services and assets
from being made available to terrorist organizations at home and
abroad.
If the latest requirements of the EU anti-terrorism regulation are not
All company and product names and logos used in this document are trade names and/or registered trademarks of the respective companies.
complied with, the consequences are predictable. For example,
there is a danger that the entire assets of a company are frozen.
There is even a danger of being included in one of the sanction
lists if one of the individuals or organizations listed there is sup-
plied. It should also be considered that there is no legal claim to be
removed from the sanction list. Anyone who acts without a second
thought here quickly puts the future of the entire company at risk and
therefore also that of the employees.
Organizations and individuals who fall foul of the EU anti-terrorism
regulation are included in various sanction lists compiled by the
European Union and institutions of the United States of America,
amongst others.
How can in-house customer master data be matched against the
current sanction lists, in order to comply with the regulation? We
present a practical approach which matches the current editions of
sanction lists against the customer master data in batch or online
processing, thereby providing you with certainty with regard to the
EU anti-terrorism regulation.
The statutory requirements and their effects will be outlined in the
following. Furthermore, the relationship with the data quality in the
conventional sense will be described. Finally, the options for practi-
cal implementation will be considered. The implementation scenar-
ios will be documented with examples and possible downstream
processes will be presented.
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