Keeping your business compliant with the Office of Foreign Assets Control's (OFAC) sanctions programs and frequently changing Specially Designated Nationals List (SDN List) is achievable even in today's fast-paced business and environment. Choosing a reliable, cost effective, automated web service or software solution is an important first step towards achieving your organization’s OFAC compliance and restricted party watch list screening goals. But what type of OFAC restricted party screening software is most effective?
Your OFAC Software Should:
- Automate the process for screening customer lists, business partners and other databases against OFAC's Specially Designated Nationals List
- Create efficiencies by having the ability to check other U.S. Government and international restricted party watch lists at the same time that OFAC's SDN list is checked
- Offer advanced matching and disqualification techniques to achieve the most accurate matches possible, while at the same time minimizing the number of false positives
- Easily integrate an OFAC SDN List search into your existing applications and compliance processes via web services and automated batch file processing
- Enable the ability to run in a managed hosting facility (SaaS), facilitating fast deployment, minimal IT involvement, no hardware investment and reduced support needs
- Provide detailed reports and audit trails for compliance, tracking and auditing purposes
Meet OFAC Compliance Demands with CSI
CSI has several OFAC and restricted party watch list screening solutions to streamline and automate the screening process for you. Check out our:
- WatchDOG® Pro – A browser-based or web service restricted party watch list screening solution providing automatic updates each time OFAC’s SDN List is updated and provides necessary auditing and reporting documentation. Additional options available: Single Lookups – which integrate web services with your system or enables your users to manually input and review matches; and, Flat File Batch Processing – which permits uploading of your file through a web browser or automating your file runs by sending them to us via secure means (FTPS, SFTP, etc.)
- WatchDOG® Pro – IAT Module – An additional component to WatchDOG® Pro that separates OFAC matching transactions in your IAT file then reassembles your IAT file with non OFAC matches. Non-matching IATs continue in your process, allowing time to perform due diligence on the matching/suspect IAT transactions
- WatchDOG® Pro – CDM Module – Customer Data Management allows for automated scheduling of data scanning based on your compliance needs. For example, the CDM Module can ensure that your databases are automatically re-scanned whenever the OFAC SDN List is updated
- WatchDOG® WinPro – A Windows-based restricted party watch list screening solution that facilitates the scanning of your data against multiple restricted party lists, including OFAC's SDN List
- Outsourced Watch List Services – CSI's experienced compliance analyst team reviews potential matches with OFAC’s SDN List and other lists so you don't have to
Comply with OFAC sanctions and prevent fraud and illegal activity while protecting your business. Learn more about our WatchDOG® Pro suite of products and how it will expedite your tedious OFAC compliance and restricted party watch list screening demands.