What is watch list in SAP GRC-WLS - SAP Watch List Screening?

SAP Term: watch list

• Component: GRC-WLS

• Component Name: SAP Watch List Screening

• Description: A list of people or organizations that are being closely watched because they are likely to do bad or corrupt things in the future. Official watch lists are created and compiled by government authorities or agencies that warn you to beware or refrain from interacting with those individuals or entities on the lists. An example of such watch lists are the Denied Party Lists DPL and Sanctioned Party Lists SPL.

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• Key Concepts: 
  GRC-WLS SAP Watch List Screening is a tool used to identify potential risks associated with customers, vendors, and other business partners. It helps organizations comply with regulations and protect against financial crime by screening names against watch lists from government agencies, international organizations, and other sources. 
  
  How to use it: 
  The GRC-WLS SAP Watch List Screening tool can be used to screen names against watch lists from multiple sources. It can be used to identify potential risks associated with customers, vendors, and other business partners. The tool can also be used to monitor changes in watch list data over time. 
  
  Tips & Tricks: 
  When using the GRC-WLS SAP Watch List Screening tool, it is important to ensure that the data being screened is up-to-date and accurate. Additionally, it is important to ensure that the watch list data is being screened against the most recent version of the watch list. 
  
  Related Information: 
  For more information on GRC-WLS SAP Watch List Screening, please visit the SAP website at https://www.sap.com/products/grc/watchlist-screening.html. Additionally, there are a number of resources available online that provide more detailed information on watch list screening and how it can be used to protect organizations from financial crime.