OFAC Compliance

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OFAC Compliance Options from Lyons Commercial Data

Lyons Commercial Data can help you implement an OFAC compliance program by providing you with the right tools to screen your customers based on your specific needs. We compile and maintain multiple sanctions lists allowing you to perform one screening search with the results available in real-time.

OFAC Screening Online Portal:

Comprehensive, web-based, OFAC compliance solution. Also offered in a light version called “OFAC Solution”.

OFAC Web Services:

Access to search results from key lists to support your internal OFAC compliance application.

Targets of Economic Sanctions

Payment processors and their clients need to make an effort to ensure they are not doing business with individuals or groups, such as terrorists and narcotics traffickers, who are the target of economic sanctions administered by the Office of Foreign Assets Control (OFAC).

 

Avoid Fines and Penalties

The fines for violations can be substantial. Depending on the program, criminal penalties can include fines ranging from $50,000 to $10,000,000 and imprisonment ranging from 10 to 30 years for willful violations. In addition, civil penalties can range from $250,000 or twice the amount of each underlying transaction, to $1,075,000 for each violation.

Ready to start reducing your returns and ensure compliance?