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Use SDN Economic Sanctions Software before you complete any customer or vendor transaction, wire transfer (in/out), car sale, boat sale, home sale, any new account or repeat customer, loan/title closing, official check, travel arrangement, precious metal transaction, pawn transaction, etc.

The staff member should check the (potential) customer for a possible match in the SDN database using SDN Economic Sanctions Software.  SDN is an easy to use Specially Designated National lookup program based on the Office of Foreign Assets Control (U.S. Treasury) database of terrorists, narcotics traffickers, drug kingpins, banks, countries, ships, and other individuals as designated in our United States Sanctions Laws.

The law also requires you to explore extended parties to the transaction.  Many terrorist and money laundering groups use fronts or individuals to perform the transaction.  Due diligence includes asking the right questions and checking extended party names against the SDN listing.

Begin typing the suspected name into the program to start the search.  The database is dynamically repositioned on the screen with each letter typed.  Typos are immediately apparent.  You can arrow up/down or page up/down to check for close spellings.  Official names plus aliases are contained within the database.  Information about a suspect and sanction details are displayed with one keystroke.  Summary information about each active United States sanction is displayable.

As the Treasury releases new official information, I convert the listing into a searchable database and notify subscribers via email so the update can be downloaded at will from the SDNMAIL web page.  The information in SDN matches the official data maintained by OFAC.  SDN can be centrally shared on Microsoft networks and is Netware and MS Windows 95 - XP compatible) and can also be installed standalone on PC's and laptops or any combination.

By giving each and every employee, in the field or office, immediate access to the current OFAC database and putting the OFAC / SDN name check in all appropriate procedures, you educate and empower your staff to help in our country's sanction goals.  The person at the transaction point has the best opportunity to verify the identity of the customer and protect your business and reputation.

Don't delay.  By United States Law, all financial companies in America should be comparing customers against the Specially Designated Nationals listing as part of identifying who you are doing business with.

See the SDN Regulations Section for more information.

Subscribers ONLY:  Download SDN Economic Sanctions Software Update.

Copyright 1996-2010 Update Software Services - Last modified: March, 2010
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