July 2022 Update on Dun & Bradstreet Data Usage in Compliance with Recent Sanctions
Further to our communication in April 2022, Dun & Bradstreet continues to closely monitor the impact of the Russia-Ukraine crisis on business activity globally. In light of recent events and in compliance with the latest global sanctions, Dun & Bradstreet has taken the following action:
- Effective July 7, 2022, Dun & Bradstreet is suspending access to configured1 financial data in its solutions to Russian entities and individual users (of financial information) based in Russia. This suspension addresses the U.S. Office of Foreign Assets Control’s sanctions pursuant to Executive Order 14071.
Certain requirements under the Executive Order are consistent with the EU’s efforts earlier this year to ban firms from providing credit rating and subscription services in relation to credit rating activities to Russian businesses, nationals and people in Russia. Based on circumstances of the crisis, Dun & Bradstreet also moved all Ukrainian businesses to an ‘uncertain operating status,’ as the local business environment was making it challenging to provide guidance on companies’ credit worthiness. These events resulted in Dun & Bradstreet taking the following previous actions:
- In April 2022, the development of any additional insights or scores on entities that were directly impacted by the Russia-Ukraine crisis were suspended. This included scoring on:
- All Ukraine businesses, based on limited visibility into their uncertain operating status in the region
- Directly sanctioned entities and entities around the world that are controlled by companies that have been sanctioned by the UK, U.S., Canada or EU for their involvement with the crisis in Ukraine
- On April 15, 2022, Dun & Bradstreet disabled access to credit-related products to users located in Russia – in accordance with applicable regulatory actions.
- On April 15, 2022, Dun & Bradstreet also requested that administrators of accounts using our API solutions should evaluate permissions and access to individual users to ensure compliance with the UK, U.S., Canada and EU sanctions.
Dun & Bradstreet will communicate further changes to its data, services and solutions, when appropriate, to ensure that we continue to comply with global and local regulatory and policy changes. For further assistance, find your local contact https://www.dnb.com/choose-your-country.html.
1 For purposes of this suspension, “configured” financial data includes financial data relating to an entity that is modified, interpreted or analyzed by Dun & Bradstreet, such as ratios, growth rates or industry quartiles, or any estimated or modeled financial data.