Sanctions List Screening

Protect your business from performing transactions with persons or organizations listed on the OFAC & PEP watchlists. Our sanctions list screening solution helps businesses comply with global regulatory requirements by quickly and accurately identifying individuals and entities listed on global watchlists, such as OFAC, ensuring they are not involved in financial crimes or terrorist financing.

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Protect Your Business

Businesses should be aware that some public sector employees (PEPs) may be involved in bribery or corruption. This can lead to KYC and AML violations for dealing with these individuals or countries. With IDMkyc, businesses can validate all individuals they interact with globally, ensuring compliance with the highest global standards.

OFAC Screening

OFAC Screening is an enforcement agency of the United States Department of Treasury. Under Presidential national emergency powers, OFAC acts to restrict transactions and freeze assets. OFAC enforces the Tradition with the Enemy Act, which restricts trade with countries hostile to the U.S. It also uses sanctions to apply financial pressure to targeted individuals or nations. Screening sanction lists is one of the Anti-Money Laundering or CDD operations.

Goals and Exemptions for Trade Restrictions

OFAC's mission is to combat financial crime, money laundering, and other illicit activities. OFAC has the freedom to exempt certain transactions from prohibition and allow them to occur. OFAC has a Specially Designated Nationals (SDN) list, which is a list of individuals and companies who are affiliated with or from targeted countries.

PEP List Screening

PEP List Screening identifies Politically Exposed Persons & analysing their risk profile for the financial institution. PEPs are individuals with formal political power and informal but influential political connections, according to the Financial Action Task Force (FATF). Rather than imposing a time limit on dealing with a previous PEP, risk assessment should be considered. Risk-based approaches require analysis of PEPs who no longer hold prominent public positions to determine whether they are susceptible to money laundering and terrorist financing.

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We ensure top-notch privacy and compliance standards for your business, so that you can focus on what matters most.