On today’s podcast, we are going to talk about maintaining compliance for a US sanctions list, the OFAC SDN list.  If you only check vendors against this list at the time of vendor setup and then forget about it – you need to listen up.  I will review why you need to monitor, give two examples of fines for OFAC violations, and then talk about how you can monitor your existing active vendors.  

Check out my website www.debrarrichardson.com if you need help cleaning your vendor master file or protecting it from fraud.  

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Links Mentioned in the Podcast: 

• Read the Blog:  https://debrarrichardson.com/blog/3-ways-to-maintain-ofac-compliance-beyond-vendor-setup
• OFAC FAQ Excerpt:  http://bit.ly/2OJIDT0
• JPMorgan OFAC sanctions violations: why proactive due diligence matters:  http://bit.ly/2OOzZm9
• OFAC Enforcement Action Highlights Sanctions Risk in Supply Chain: http://bit.ly/2ONaLoh 
• US Entity: Validations Required to Setup a US Vendor:  http://bit.ly/2VXP8UE 
• US Entity: Validations Required to Setup A Non-US (Foreign) Vendor: http://bit.ly/2WbcVAL 

Music Credit:  www.purple-planet.com