ST0741
On-boarding: The organization develops a sanctions risk rating for customers, customer groups, or account relationships, as appropriate, by leveraging information provided by the customer (for example, through a Know Your Customer or Customer Due Diligence process) and independent research…
Plain-language summary
What it actually means.
Plain-language summary forthcoming. Source text below.
Source text
As written.
On-boarding: The organization develops a sanctions risk rating for customers, customer groups, or account relationships, as appropriate, by leveraging information provided by the customer (for example, through a Know Your Customer or Customer Due Diligence process) and independent research conducted by the organization at the initiation of the customer relationship. This information will guide the timing and scope of future due diligence efforts. Important elements to consider in determining the sanctions risk rating can be found in OFAC’s risk matrices.
Assessed by HEXDI
What HEXDI assesses.
- M6
1 — TRANSACTION SCREENING
Program requires integration of customer due diligence into its order fulfillment and customer management processes.
- M6
5 — TRANSACTION SCREENING
Program requires due diligence screening of new customers to verify each customer's name, address, business, and countries of operations…
- M9
1 — THIRD PARTY MANAGEMENT
Program requires integration of third-party due diligence screening into relevant internal information technology, company procurement, and…
Related
Other DOT standards.
Source & revisions
- First mapped
- Jun 8, 2022
- Last updated
- May 26, 2026 (29m ago)
- Source
- Framework for OFAC Compliance Commitments