OFAC Express Screening

What

The Office of Foreign Assets Control (OFAC) is an agency of the U.S. Department of the Treasury under the auspices of the Under Secretary of the Treasury for Terrorism and Financial Intelligence. Based on U.S. foreign policy and national security goals, OFAC administers economic trade sanctions against targeted foreign states, organizations, and individuals.

How

The OFAC Express Screening program gives users the ability to check as many names as they like against the OFAC watch list. The monthly subscription service allows our clients to upload lists of names for screening as often as they like for as long as they subscribe to the program. After uploading the names and running the scan, users receive a detailed report of the matches. This information allows the organization to avoid doing business with the matched individuals and to follow the appropriate next steps. OFAC Express Screening offers a way for our clients to maintain compliance with federal guidelines on a recurring basis without acquiring a complete compliance management program, such as the IdentiFlo Management System.

Why

The OFAC Express Screening tool is a useful resource for businesses that are interested in protecting against fraudulent activity and complying with federal regulations. This product allows companies to avoid working with high-risk individuals while managing better distribution controls for high-risk products. By flagging individuals who are included on the OFAC watch list, our product assists with organizational risk-management protocols to help you maintain your compliance certifications.

Typical Applications

• Processing Transactions
• Transferring Funds
• Avoiding High-Risk Transactions
• Originating and Modifying Accounts
• Resetting Passwords
• Performing Due Diligence
• Ensuring Compliance with Federal Regulations
• Protecting Against Fraud