Are you using the right OFAC Search Tool?

Organizations need an OFAC Search tool to screen everyone who comes into their sphere of business to ensure they are not transacting with anyone on one of OFAC’s many watch lists. And they need to re-screen them on an ongoing basis to ensure they don’t end up on a watch list in the future.

Staying compliant using an OFAC search tool is more than "search once and you're done."

While there are services that offer simplistic screening options for organizations to use to help fulfil their mandatory OFAC compliance obligations, there are several reasons why they can be problematic.

By not using a comprehensive OFAC search tool to screen for sanctioned parties and countries, you may be leaving gaps in your operational and compliance processes.

OFAC SDN Search Tool

 

The top 5 reasons your organization needs a comprehensive OFAC Search Tool

1. To provide you with complete coverage against government lists

It makes sound business sense to use a solution that will allow an organization to search OFAC watch lists, as well as hundreds of lists from multiple government agencies at the click of a button.

2. To alert you when previously screened entities are added to a government watch list

Unless your organization manually screens multiple times throughout the business workflow, you could be at risk of inadvertent export, trade, or OFAC violations.

3. To help ensure you receive results that meet your risk tolerance

Align with your organization’s risk profile by using a solution that provides highly configurable search settings and other search options to help ensure you receive accurate results.

4. To create an audit record of your screening activities

By automatically creating records of screening activities along with easily documenting decisions made on whether to proceed with a transaction, your organization can easily prove due diligence should the authorities come knocking.

5. To have a system that can be relied upon

Your compliance solutions need to be available when you need them, regardless of maintenance, pandemics, political complications, or other issues that may arise.

To learn more about the benefits of a comprehensive OFAC search tool, contact us today and ask for our free Comprehensive Screening Solutions vs Free OFAC Search Tools eBook.

I know from my thirty-two years of experience in compliance: you cannot rely on screening and OFAC searches across multiple websites. Names will get overlooked; things will be missed. In order to be compliant, you need a unified system.

Loree, Trade Compliance Manager, Financial Services Industry

Why choose Descartes Visual Compliance™?

Incredibly Intuitive and Easy to Implement

You can start using Descartes Visual Compliance OFAC SDN Search software right away. Typical deployments are completed in less than a day.

Dedicated Service

Our service team, IT and regulatory compliance specialists have the necessary expertise to help support your compliance processes from day one onward. As well, your dedicated service representative is there to help you every step of the way.

Our Experience With OFAC

Rely on our expertise, developed over 35 years of helping companies navigate the complexities of compliance with government regulations.

Modular Approach

We provide an a la carte menu of compliance solutions, which allows you to focus on your key risk management needs. As your business needs change, Descartes Visual Compliance adapts to support you.

Discover our products

Compliance Manager Workflow

Discover Restricted Party Screening Compliance Manager Workflow

Increase visibility and streamline your organization's screening activities

Integrated Screening

Discover Integrated Screening

Screen automatically in your business system to help ensure consistent and reliable OFAC compliance.

Dynamic Screening

Discover Dynamic Screening

Automatically rescreen your records against daily changes made to OFAC and other government watch lists.

For more information about our OFAC search tools and related compliance solutions

To learn more, call toll-free 1-877-328-7866 (Intl: 716-881-2590) and talk to one of our compliance consultants. They'll help you analyze your restricted and denied party screening requirements, evaluate your options, and provide focused software demonstrations.