OFAC Search Made Easy with Contract Management Software

By Sean Heck on 05/22/20

Vendor, customer, and employee compliance management are essential for organizations to maintain adherence to compliance standards, mitigate risk, and uphold their reputation.  However, as contract volume grows, it can be difficult for organizations to track the records of vendors, customers, partners, and employees regularly.  To achieve and maintain compliance, it is paramount that organizations, regardless of industry, remain aware of violations committed by entities they are performing business with.  Such violations include failure to adhere to economic and trade sanctions under The Office of Foreign Assets Control (OFAC).  Contract management software with intelligent national sanction compliance checks and risk analysis snapshots can help organizations to avoid these issues by providing them with a comprehensive and centralized OFAC search process.

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