OFAC Checker: Stay in compliance with the ever-evolving sanction list
To prevent penalties or reputational damage, most banks, lending companies, educational institutions, and recruiters must conduct several checks on their prospective and existing customers to ensure compliance with OFAC. Nonetheless, the sanction compliance procedure is complicated and time-consuming, which is a concern for most firms. To address the issue of ambiguous sanction screening, Cloud Maven, Inc has developed OFAC Checker. It is a cost-effective and user-friendly solution that streamlines and automates the screening process without the use of coding or several complex steps thereby eliminating human error.
The application provides unlimited OFAC checks on individuals and entities and supports batch processing using any Salesforce standard or custom object. Its advanced reporting metrics assist in obtaining a detailed report via charts and graphs, which can be easily monitored and interpreted via the fully customizable dashboard. OFAC Checker offers real-time sanctions screening using the most up-to-date government watchlists. It saves “False Positive” profiles to avoid screening duplication. Profiles that have been labeled as “False Positives” remain marked for all searches.
It requires only the name of the individual or entity to screen against all the sanction lists, including DPL (Denied Persons List), EL (Entity List), UVL (Unverified List), ISN (International Security and Non-Proliferation), DTC (Directorate of Défense Trade Controls), CAP (Correspondent Account or Payable), FSE (Foreign Sanctions Evaders), PLC (Palestinian Legislative Council List), SSI (Sectoral Sanctions Identifications List), SDN (Specially Designated Nationals), and other sanction lists available on the government watchlists.
Following are the notable benefits of using OFAC Checker:
- It offers a user-friendly and customizable interface
- Saves time and cost effectively
- Eliminates human errors
- Enhances and expedites the business decision-making ability
- Helps your business meet the updated compliance requirements
- Mitigate the risk of OFAC rules violation
- Helps in identifying the potential risk
- Compatible with most Salesforce editions
Incorporate OFAC checker to ensure your watch list is up to date. The application is available on Salesforce AppExchange.
Reach out to us at info@cloudmaveninc.com to get a 30-days free trial.
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