How To Fix FSBP_LEGAL_DATA007 - The credit standing review is required in accordance with para. 18 KWG

FSBP_LEGAL_DATA007 - Overview

• Message type: E = Error

• Message class: FSBP_LEGAL_DATA - Regulatory Reporting Data

• Message number: 007

• Message text: The credit standing review is required in accordance with para. 18 KWG

Self-Explanatory Message

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FSBP_LEGAL_DATA007 - Details

• The SAP error message FSBP_LEGAL_DATA007 indicates that a credit standing review is required in accordance with paragraph 18 of the German Banking Act (KWG - Kreditwesengesetz). This error typically arises in the context of financial services and banking modules within SAP, particularly when dealing with customer credit assessments.
  
  Cause:
  The error is triggered when a transaction or process requires a credit standing review for a customer or business partner, but this review has not been completed or is not available in the system. This is often a regulatory requirement to ensure that financial institutions assess the creditworthiness of their clients before extending credit or entering into financial agreements.
  
  Solution:
  To resolve this error, you should take the following steps:
  
  
  Perform Credit Standing Review:
  
  Ensure that a credit standing review is conducted for the relevant customer or business partner. This may involve gathering financial data, credit history, and other relevant information.
  
  
  
  Update Customer Data:
  
  Once the credit standing review