OFAC screening tool
Lyons patriotAGENT™ offers robust OFAC screening with an advanced search engine and algorithm. It allows you to focus on precise matches, minimizing the occurrence of similar matches or false positives. Whether conducting individual name searches or reviewing imported files, this comprehensive OFAC search tool from Lyons Commercial Data provides the flexibility required to customize your OFAC compliance strategy.
WHAT IS KNOW YOUR CUSTOMER (KYC)?
Section 326 of the Patriot Act addresses the identification of new customers and emphasizes the importance of Know Your Customer (KYC) practices. This provision holds financial institutions responsible for ensuring the efficacy of both initial customer identification and ongoing KYC screening processes.
OFAC SCREENING ONLINE PORTAL
With access to more than twenty-five updated watch lists, you can perform OFAC screening of your customers and/or vendors in real-time, or via batch processing, through the secure online portal. Lyons patriotAGENT is fast (5000 records per second), secure (128-bit SSL encryption), flexible (upload your own Deny Lists (including FinCEN’s 314(a) lists), and Accept Lists, which sift out recurring matches on previously cleared names), extensive reporting, and updated timely (as soon as the government updates their lists, we update ours).
OFAC WEB SERVICES
OFAC Web Services support your application integration needs. For clients looking to incorporate OFAC screening into their own applications, the Lyons OFAC web services provide streamlined access to the three most often-used watch lists. Simple methods allow you to submit a name, or country and name, against various watch lists. The function returns any potential matches along with a score, indicating the likelihood of an actual match. Lyons Commercial Data is happy to provide free trial access for development-site testing purposes.