Compliance

002As part of its compliance requirements, the Office of Foreign Assets Control (OFAC) requires all U.S. businesses to screen accounts against OFAC listings. In accordance with U.S. foreign policy and national security goals, OFAC constantly tracks and updates lists of Specially Designated Nationals and Blocked Businesses. To help you facilitate compliance with this important government regulation, Equifax offers OFAC Alert, a cost-effective screening tool that delivers easy-to-read results on every inquiry.

Benefits to you:

  • Reduce costly and cumbersome searches with one tool that draws from many sources • Automate the screening process, limiting the amount of maintenance and number of manual searches
  • Reduce the risk of fines with enhanced data that makes it easier to identify individuals and businesses on the list
  • Make quick, real-time decisions with results delivered instantly to the point-of-application
  • Document compliance efforts with a record of each screening

Solutions we offer:

  • OFAC screening
  • Red Flag Services

Given that OFAC screening is an existing requirement, Equifax provides a solution that streamlines compliance with minimal hassle and disruption to your business.

Products and Services
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OFAC Alert automates the OFAC screening process and delivers clear, easy-to-read results to the point-of-sale, streamlining your compliance efforts with minimal cost.
Red Flag Services for Business Accounts helps you more easily comply with Red Flag legislation as well as other regulatory requirements such as Know Your Customer (KYC), Customer Identification Program (CIP) and USA PATRIOT Act.
Business Identity Report enables you to quickly verify the identity of a business and principal/guarantors.