The economic crisis has triggered a crisis of confidence in virtually all institutions, private or public. Whether you are a charity, non-profit, or (non) governmental body,
the burden is on you to show you fully grasp the implications of transparency and accountability. Therein lies the opportunity, or the safeguard.
NGOs, charities and non-profit organizations depend to a very great extent on pristine reputations. Not only to attract and retain funding, certifications and authorizations, but also their executive, boards and advocates. Not surprisingly,
most are highly concerned with protection from risks that would see funding dry up overnight, authorizations evaporate, and authorized officers face significant fines, even jail terms.
In today's heightened security-consciousness, there are few greater reputation-destroying risks than allegations of non-compliance with statutes designed to protect America and her Allies from terrorism, weapons proliferation and drug trafficking.
OFAC screening required of "Financial Services" organizations
The Financial Crimes Enforcement Network (FinCEN) includes NGOs and charities in its financial services definition largely as a result of a susceptibility to being targeted by money-launderers,
and risk of doing business with specially designated nationals and sanctioned countries.
As a result, NGOs and charities are subject to some of the same stringent requirements applied to more traditional financial organizations, including being legally required to have Office of Foreign Assets Control (OFAC) compliance screening mechanisms to ensure (and prove) that business relationships and transactions comply with the regulations.
How we can Help
Visual Compliance provides robust, cost-effective automation solutions and regulatory content to manage all aspects of foreign trade and export control compliance. With over 30 years of experience helping companies easily gain control and visibility over their compliance issues and processes,
our solutions are relied on by more than 4,000 companies at home, and abroad to:
- Conduct Restricted and Excluded Party and Specially Designated Nationals screening
- Search current Federal Export Control Regulations and Sanctions
- Determine ECCN classifications and USML categories, and exemption, exception, exclusion or licensing requirements
- Automate compliant recording of researcher certifications and controlled/licensed activities
- Access documentation and audit trails for internal and government due diligence protection
For more information, call toll-free 1-877-328-7866 and talk to one of our foreign trade compliance consultants. They'll help you analyze your requirements, evaluate your options, and provide focused demonstrations.
Or send an email.
