The Office of Foreign Assets Control (OFAC) enforces economic and trade sanctions in alignment with U.S. foreign policy and national security goals. It maintains lists of sanctioned entities, individuals, and regions.
Why it matters:
Businesses must screen all transactions and customer data against OFAC lists to avoid significant financial penalties and legal liabilities.
How Ubiquity helps:
Ubiquity supports clients with automated screening procedures and specialized compliance teams, helping ensure adherence to OFAC regulations.
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