OFAC Compliance

General

The Office of Foreign Assets Control (OFAC) is a department within the U.S. Treasury that regulates and enforces economic and trade sanctions based on US foreign policy. The OFAC compliance test is a mandatory test that checks a customer’s identifying information against the specially designated nationals (SDN) list to make sure that it is legal to give the customer a loan.

How to Run a Compliance Test

The OFAC compliance test can be found inside Customer Tools in any customer file.

Simply click Pull OFAC Report Now.

This will bring up a window with the customer’s information.

To run the test, click  .

You will see the results of the test in the bottom right of the window.  If you customer doesn’t comply with OFAC regulations, click  to view the steps you should take from that point.

If the OFAC test has been completed, you should see a  on the Contact & Personal information tab for the customer.


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