What is Process Insight for OFAC

Office of the Foreign Assets Control (OFAC) is a part of the US Department of the Treasury. OFAC administers and enforces the economic and the trade sanctions, based on the US foreign policy and the national security goals, against the:

• targeted foreign countries and regimes
• terrorists
• international narcotics traffickers
• those engaged in activities related to the proliferation of weapons of mass destruction
• other threats to the national security, foreign policy or economy of the United States

OFAC acts under the Presidential national emergency powers, as well as the authority granted by the specific legislation, to impose controls on transactions and freeze assets under US jurisdiction. Many of the sanctions, based on United Nations and other international mandates, are multilateral in scope and involve close cooperation with allied governments.

Process Insight for OFAC enables you to achieve OFAC compliance by identifying suspect transactions with customer or vendor names that match or are similar to the SDN list (Specially Designated Nationals) of individuals or countries published by OFAC.