Before opening bank accounts, banks use the OFAC database to screen their customers. OFAC requires banks to report suspicious transactions. Many banks face difficulties finding qualified personnel to handle these tasks. As a result, they use OFAC screening applications to ensure sanctions compliance and AML transaction monitoring.
OFAC Checker instantly screens individuals and entities against the ever-changing OFAC sanctions list. It offers unlimited OFAC checks on individuals and entities using any Salesforce standard or custom object and ensures that your organization follows the OFAC rules and regulations. This Salesforce native OFAC sanction screening solution supports batch processing, which allows you to screen multiple profiles at the same time. It includes a fully customizable OFAC dashboard to assist businesses in monitoring and analyzing reports. Its advanced reporting metrics provide consolidated reports on each activity via charts and graphs.
OFAC Checker allows automated audit trails as well as continuous profile monitoring. It provides the most recent OFAC rules, regulations, and notices from all authorized agencies. The application installs in minutes and generates real-time OFAC reports in less than 10 seconds, saving time and effort. This OFAC compliance checking app is available on Salesforce AppExchange.
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