OFAC Checker is an application that automates business workflow by screening individuals and entities against the most recent OFAC sanctions list. This solution is developed by Cloud Maven, Inc., a certified Salesforce ISV Partner and winner of the 2021 Salesforce Partner Innovation Award. Banks are responsible for verifying that their customers are not on the OFAC sanctions list. This is an important part of their due diligence in meeting the Bank Secrecy Act's Know Your Customer requirements. The OFAC sanctions list includes individuals and entities subject to U.S. economic sanctions. These individuals and entities are involved in activities that risk U.S. national security, foreign policy, or the economy. The OFAC checker determines an applicant's involvement in anti-OFAC activities. It keeps banks updated on the most recent OFAC rules, regulations, and notices from all authorized agencies. It assists in determining whether the applicant complies with OFAC regulations. Using any Salesforce standard or custom object, banks can conduct an unlimited number of OFAC checks on individuals and entities. Using its batch processing feature, banks can quickly screen all profiles and contacts simultaneously while interpreting the reports through a fully customizable dashboard.

Furthermore, the app supports continuous monitoring and an automated audit trail, which alerts users when their profile status changes. It protects your property by ensuring that all laws are followed. This OFAC compliance checking tool is available for a free 30-day trial on the Salesforce AppExchange. Follow LinkedIn and Twitter to know more.