Providing compliance solutions to help your organization meet regulatory guidelines set forth by U.S Department of the Treasury, Bureau of Industry and Security and other KYC and AML governing bodies.
OFAC-API's individual and entity screening and search functions were designed in coordination with the U.S Department of the Treasury, based on latest guidelines which call for a fuzzy logic search. The search algorithm utilizes multiple matching techniques; Jaro-Winkler character similarity and Soundex phonetic matching. The search returns exact matches, as well as partial matches which meet a minimum threshold as defined by the user. The higher the threshold, the fewer results will be returned and the higher the likelihood of a match.
For more information on the guidelines used, please visit Treasury Departments official guidelines
The APIs allow for customized queries based on your organizations individual set of risks. For example, query only entities, ignoring aliases and a strong threshold configuration to avoid false positives. API results are structured and made available in the preferred data formats of software engineers.API integration is simple and straight forward.
Crypto & Digital Currency New
UN Security Council
Australian Sanctions DFAT
US BIS Denied Persons
Swiss SECO Sanctions
BSA Anti Money Laundering (AML)
Know Your Client (KYC)
Customer Due Diligence (CDD)
See these external resources provided by the relevant regulatory bodies for more information.
govinfo.gov - Customer Due Diligence Requirements (PDF)
bsaaml.ffiec.gov - OFAC Compliance Rules & Information
Treasury.gov - OFAC Resource Center
Treasury.gov - OFAC Frequently Asked Questions
BIS.gov - DPL Resource Center
BIS.gov - KYC Rules & Guidance (Know Your Client)
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