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BANKING AND SECURITIES The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury administers and enforces a series of laws that impose economic and trade sanctions against targeted foreign countries and their agents, terrorism sponsoring organizations and agencies, and international narcotics traffickers based on U.S. foreign policy and national security goals. OFAC acts under Presidential wartime and national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze foreign assets under U.S. jurisdiction. Many of the sanctions are based on United Nations and other international mandates, are multilateral in scope, and involve close cooperation with allied governments. Under these laws, financial institutions, securities firms, and insurance companies are obligated to block or "freeze" property and payment of any funds transfers or transactions and to report all blockings to OFAC within ten days of occurrence. Any institution in non-compliance is open to adverse publicity, fines, and even criminal penalties. Mandatory Screening Blocked Persons screening is mandatory under OFAC regulations. Visual Compliance gives you all the tools and content you need to ensure that you and your company stay on the right side of the law, and contribute to U.S. national security — quickly, economically, and efficiently.
Visual Compliance provides the most comprehensive available service for Denied Party Screening, including a broad range of restricted, debarred, blocked and prohibited entity lists,including lists published by the Bureau of Industry and Security [BIS] of the Department of Commerce and the Directorate of Defense Trade Controls [DDTC] of the Department of State) for exports and munitions orders, as well as the U.S. General Services Administration List of Parties Excluded from Federal Procurement, Nonprocurement, and Reciprocal Programs, along with other official law enforcement, banking, and international lists. Call toll-free 1-877-328-7866 and talk to one of our global
trade compliance consultants. They'll help you analyze your requirements, evaluate
your options, and provide focused product demonstrations. Or send an email to
info@eCustoms.com. |
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