Sanctions screening is a critical part of an enterprises' anti-financial crime framework and helps protect businesses from illegally engaging with any sanctioned companies, entities or individuals. Every transaction that takes place in U.S. dollars is subject to Office of Foreign Assets Control (OFAC) regulations, and there are stiff civil or criminal penalties for non-compliance. 

Our team developed a solution which saves our customer thousands of dollars on screening tool annually. 

Running an OFAC check may appear simple, fairly straightforward, but in fact, it's not efficient to do on a large scale because of the time intensive. It is required to screen entities one-by-one. It’s also complicated by the fact that people, entities, and countries are regularly being moved onto and off of OFAC’s lists. And OFAC screening is usually just one of many things a business has to do to comply with KYC / KYB / KYE regulations.

Our tool supports one of our customers with intelligent OFAC solutions for regulatory compliance management, risk prevention to easily adhere to U.S. Treasury sanctions of OFAC SDN and non-SDN lists, vessels, entities, aircrafts. 

Our software provides specialized data feeds for sanctions screening. We apply Jaro-Winkler algorithms and reduce significantly false positive to quickly screen all transactions and return precise results. Contact us to discuss about the integration into your existing technology framework.

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