OFAC Compliance

OFAC Compliance

The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury is responsible for enforcing economic and trade sanctions based on the country’s foreign policy. Entities appearing on the OFAC sanction lists could be suspected of the proliferation of weapons of mass destruction or of narcotics trafficking. This is why it’s important for organizations to ensure that they remain compliant with the OFAC regulations.

Keep Your Business Protected with OFAC Compliance Screening Software

With the help of OFAC compliance screening solutions from Truth Technologies, you can make sure that your business is consistently safe from potential risks. Our software allows you to accurately identify and avoid entities on OFAC sanction lists, enabling you to more effectively prevent any potential issues with compliance while automating the monitoring process.

The Truth Technologies Sentinel™ solution for OFAC compliance will improve due diligence while allowing you to direct your focus on other areas of business. You can also implement our Enhanced Due Diligence reports when screening for OFAC sanctions to further improve your processes. Our solution comes with several features to allow for easy screening for OFAC risks, with minimal risk of false positives and noncompliance.

Why You Should Turn to Truth Technologies for OFAC Compliance Solutions

Our OFAC compliance screening technology will give you everything you need for accurate identification and verification of OFAC risks with optimum efficacy. Here are some of the specific benefits you’ll find when you use Truth Technologies to protect your business:
  • Consistent compliance – You can remain compliant with all US, Canadian, and EU AML and privacy rules and regulations, with simple configuration along with non-editable and comprehensive audit logs for reporting and due diligence verification.
  • Lighter workload – Avoid manual data entry with the help of an automated onboarding process, with a low rate of false positives and New Data Alert features along with Continuous Customer Monitoring that will help reduce instances of matches requiring review by up to 75%.
  • Ease of use – Benefit from fast remediation and user-friendly screens, SAR and CTR reporting, workflow, Real-Time APIs, and Batch Screening, all of which allow you to review as many as thousands of customers without any need for manual data entry.
  • Simpler integration and maintenance – Our OFAC compliance monitoring technology also includes automatic updates for your database, software, and overall system with integration and batch processing completed within a day.
  • Maintain global operations – Our custom solutions are available in English, Spanish, and French, featuring international watch list support for all names and addresses.

Utilize a Complete OFAC Compliance System from Truth Technologies

To learn more about our OFAC compliance screening solution, simply request an OFAC compliance tool demo and you’ll see why our software is among the best available for KYC and due diligence. Find out why our software is ideal for OFAC risk screening and performing other due diligence tasks that maintain your organization’s security and efficiency.