U.S. Department of the Treasury Specially Designated National and Blocked Persons List Integration
The Office of Foreign Assets Control (OFAC) is an agency of the United States Department of the Treasury for Terrorism and Financial Intelligence. The OFAC administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals against targeted foreign states, organizations, and individuals. To enforce economic sanctions, OFAC seeks to prevent "prohibited transactions," to include trade or financial transactions with individuals or organizations that are deemed to be a threat to U.S. national security.
The Specially Designated Nationals (SDN) and Blocked Persons List is an OFAC publication which lists individuals and organizations with whom U.S. citizens and permanent residents are prohibited from doing business, such as organizations or persons that are known funding sources for terrorist groups.
Organizations using RSA Archer Third Party Governance to manage third party vendors can compare the information from the OFAC SDN and Blocked Persons List with their vendor profiles and contacts to determine if their suppliers are considered an SDN. This integration centralizes this SDN list information, compares the list to vendors and contact, and, upon finding a match, alerts stakeholders to take remediation actions. The RSA Archer integration with the U.S. Treasury SDN and Blocked Persons List assists procurement managers in managing and prioritizing the SDN vendor and contact match process, reducing the risk of conducting business with blocked or sanctioned organizations.
U.S. Department of the Treasury Specially Designated National and Blocked Persons List integration with RSA Archer enables organizations to:
Automate the process of comparing your vendor catalog to the SDN list of organizations and contacts with whom you should not be doing business
Reduce the time required to review and evaluate matching vendor or contact records
Quickly implement remediation and assign accountability to address organizations or individuals with whom you should not be doing business