OFAC Checker is a user-friendly application that automates the business workflow by instantly providing OFAC reports inside Salesforce. Cloud Maven, Inc., a certified Salesforce ISV Partner and the 2021 Salesforce Partner Innovation Award winner has developed this solution.
Software companies must comply with the regulations set forth by the Office of Foreign Assets Control (OFAC) because they are responsible for ensuring that their products and services do not violate US economic sanctions laws. Suppose a software company was to violate OFAC regulations by engaging in prohibited transactions with a sanctioned country, individual, or entity. In that case, it could face significant penalties, fines, and criminal prosecution. Moreover, such a violation could harm the company's reputation and make it difficult for the company to do business with other companies or governments in the future.
To avoid these consequences, OFAC Checker can be integrated by software companies to perform real-time checks against the OFAC sanctions list. It regularly provides updated OFAC rules, regulations, and notices from all authorized agencies, ensuring that the company's watchlist contains the most recent sanctions.
It is simple to set up an OFAC check daily, weekly, or monthly through this OFAC sanction screening tool. Software companies can also use this powerful tool to screen the profiles of current and potential employees to ensure business safety and compliance. Before engaging in any transaction, these firms can conduct extensive OFAC checks on an unlimited number of individuals and entities to ensure that no specific individual or entity has been convicted of funding terrorism, money laundering, illegal drug trafficking, or dealing in weapons mass destruction. It allows businesses to screen multiple profiles simultaneously, reducing the workload of manually reviewing each profile. Software companies can use its fully customizable OFAC dashboard to understand and track reports. Its advanced reporting metrics generate insightful reports through charts and graphs.
OFAC Checker checks individuals and entities against ten OFAC databases, ensuring the highest level of compliance of any application. The app can be found on the Salesforce AppExchange. Send an email to info@cloudmaveninc.com to request a 30-day free trial. To stay up to date, follow LinkedIn, Twitter, and YouTube.
