OFAC Screening

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OFAC Screening Options

What is Know Your Customer?

Section 326 of the Patriot Act deals specifically with the identification of new customers, and made extensive provisions in terms of KYC. As a result, financial institutions are now accountable for the effectiveness of their initial customer identification and ongoing KYC screening.

Lyons patriotAGENT™ features extensive OFAC screening. Its powerful search engine, combined with an advanced search algorithm, allows you to hone in on exact matches thereby reducing the number of similar matches or false positives.

Whether you need to perform single-name searches or import files for review, this comprehensive solution from Lyons Commercial Data will provide you with the flexibility you need to tailor your OFAC compliance strategy.

OFAC Support Options

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.

Ready to start reducing your returns and ensure compliance?