Best OFAC Checking tool
Money laundering, terrorist financing, fraud, and other crimes have always targeted the financial sector. As a result, they must take extra precautions and perform regular sanction screenings on all customers. These issues can be resolved with a reliable OFAC screening solution. However, OFAC screening can result in many false positives or matches that appear on the OFAC list but need to be. This could be due to issues such as name or country-matching errors or because most apps need to be more sophisticated to distinguish between similar names. OFAC Checkers resolves these issues. It is a Salesforce-native OFAC sanction screening solution that automatically/manually screens individuals and entities using any Salesforce object. The app saves the “False Positive” profiles. The “False Positive” profiles remain marked for all future searches. As a result, it eliminates to avoid repeated screening.
Financial sectors can easily set up a scheduled OFAC check on a daily/weekly/monthly basis or at any other predetermined time based on their business needs. It identifies sanctioned individuals and entities in seconds. The app provides the most recent OFAC rules, regulations, and notices from all authorized agencies. As a result, financial sectors can obtain an up-to-date list of government watchlists. By using this powerful tool, financial sectors can automatically screen the profiles of current and potential customers to ensure business safety and compliance. Before any transaction, these sectors can use the OFAC Checker to confirm that no specific person or organization has been convicted of funding terrorism, money laundering, trafficking in illegal drugs, or dealing in weapons of mass destruction. It enables them to carry out comprehensive OFAC screening on individuals and entities. It supports batch processing to help industries check multiple profiles simultaneously, allowing financial sectors to screen hundreds of individuals and entities simultaneously. It also provides a fully customizable OFAC dashboard to comprehend and keep track of the reports. Its advanced reporting metrics provide insightful reports to employees through charts and graphs. It also automates the business workflow, eliminating human intervention and saving costs and time. The app can be found on the Salesforce AppExchange. Send an email to info@cloudmaveninc.com to request a 30-day free trial. To stay up to date, follow LinkedIn, Twitter, and YouTube.
