3 Ways to Maintain OFAC Compliance Beyond Vendor Setup

April 12, 2019


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 if you need help cleaning your vendor master file or protecting it from fraud. 

Subscribe today to be entered into the subscriber only monthly drawing to win a free Putting the AP in hAPpy Coffee Mug.   

OFAC FAQ Excerpt

JPMorgan OFAC sanctions violations: why proactive due diligence matters

OFAC Enforcement Action Highlights Sanctions Risk in Supply Chain

US Entity: Validations Required to Setup a US Vendor

US Entity: Validations Required to Setup A Non-US (Foreign) Vendor

Music Credit: www.purple-planet.com 

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Featured Speaker: 

debra-richardson.jpg Debra R Richardson, MBA, APM, CPRS
Owner, Debra R Richardson, LLC
President, Oklahoma Central Region IOFM Chapter
Accounts Payable Speaker | Consultant | Trainer
www.debrarrichardson.com | [email protected]

Debra-R-Richardson-logo.pngDebra is an accounts payable speaker, consultant, and trainer with over 20 years of experience in AP, AR, general ledger, and financial reporting for Fortune 500 companies including Verizon, General Motors and Aramark.

For the past eight years, Debra has focused on Global Vendor Maintenance, and implemented a vendor self-registration portal for 140k+ global vendors across five ERPs. In her consultancy, she focuses on internal controls and authentication to prevent fraud in the vendor master file.

Debra now focuses on protecting the vendor master file from fraud.

She hosts a weekly podcast: “Putting the AP in hAPpy”.

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