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. The Office of Foreign Assets Control (OFAC) is responsible for enforcing economic and trade sanctions against countries, organizations, and individuals that pose a threat to the national security and foreign policy of the United States. Energy production companies are vulnerable to the financial and reputational risks of OFAC sanctions violations.
An OFAC screening app is necessary for energy production companies to ensure they comply with OFAC regulations, avoid penalties, and mitigate the risk of doing business with sanctioned entities. But, most OFAC screening apps can generate many false positive matches, which require manual review to determine if they are actual matches or not. This can be time-consuming and can delay transactions. OFAC Checker saves "False Positive" profiles to avoid repeated screening. Profiles marked as "false positive" are visible in all future searches.
This OFAC sanction screening app helps energy production companies to screen and verify their clients, suppliers, and partners against the OFAC sanctions list before doing business with them. The app alerts the company if a match is found and provides a report that the company can use to determine if they need further action. This app helps energy production companies to maintain their reputation, avoid legal troubles, and continue to do business with their partners safely.
OFAC Checker determines whether or not a person or entity is involved in anti-OFAC activities. It provides the most recent OFAC rules, regulations, and notices from all authorized agencies, allowing energy production companies to keep their watchlists current and ready to counter future risks. It helps determine whether the client complies with OFAC regulations. These companies can conduct unlimited OFAC checks on individuals and entities using any Salesforce standard or custom object. Using its batch processing feature, they can easily screen all profiles and contacts simultaneously and view the reports on a fully customizable dashboard.
The app allows for continuous profile monitoring and an automated audit trail. A continuous profile monitoring system can assist energy producers in identifying potential risks early on. Any changes in the profiles of customers, suppliers, and partners that may indicate a higher risk of non-compliance with OFAC regulations can be flagged by the system. An automated audit trail streamlines compliance by centralizing all OFAC compliance-related activities. This allows energy producers to streamline their compliance efforts and save time and money. The company can schedule automated OFAC screens daily, weekly, or monthly based on their business requirements. It saves time and money while effectively eliminating human error. Energy production companies can obtain real-time statistics reports in graph and chart form by utilizing OFAC Checker's advanced reporting metrics. OFAC Checker assists energy producers in protecting their business environment and staying compliant. This OFAC compliance checking tool is available for a free 30-day trial on the Salesforce AppExchange. Contact info@cloudmaveninc.com or follow Cloud Maven, Inc. on LinkedIn and Twitter to get more information.
