E1: 01: Add Functionality To Comply With The Specially Designated Nationals (SDN) List (Doc ID 1665075.1)

Last updated on NOVEMBER 20, 2015

Applies to:

JD Edwards EnterpriseOne Address Book - Version 9.0 and later
Information in this document applies to any platform.

Symptoms

The government has a list (Specially Designated Nationals, also known as SDN) of people that US Businesses are not allowed to do business with. You can access the list at the Resource Center site of the U.S. Department of the Treasury via the below URL:

As per this site: “As part of its enforcement efforts, Treasury's Office of Foreign Assets Control ("OFAC") publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific. Collectively, such individuals and companies are called "Specially Designated Nationals" or "SDNs." Their assets are blocked and U.S. persons are generally prohibited from dealing with them. Click here for more information on Treasury's Sanctions Programs.”

So the US government expects that US companies will not do business with anyone on this list. Currently enforcement focus right now is on the banking/financial industry, but other departments are possibly focusing elsewhere. It is not just the financial industry that needs to comply. See also this FAQ on the above referenced site: http://www.treasury.gov/resource-center/faqs/Sanctions/Pages/answer.aspx#11.

Penalties for non-compliance can be $65,000 per infraction and higher, depending on the issue and the list. See also this FAQ on the above referenced site: http://www.treasury.gov/resource-center/faqs/Sanctions/Pages/answer.aspx#12.  



Cause

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