Finovate

SEPTEMBER 18, 2024

Using a combination of document, database, and biometrics checks, ID-Pal enables businesses to verify the identity of their customers in real-time. ID-Pal also streamlines OFAC, AML, and KYC processes into a single compliant workflow to ensure a comprehensive audit trail.

Fraud Detection

Finovate

OCTOBER 4, 2024

Backbase’s Engagement Banking Platform, integrated with Middesk, will give financial institutions access to real-time verification data sourced from multiple databases including the offices of all fifty Secretaries of State, the IRS, the USPS, OFAC, and more. and EU IBAN payout services to the central European nation.

Innovation

Seon

SEPTEMBER 14, 2023

Other regions sanctioned by OFAC include: Balkans Belarus Burma Central African Republic Ethiopia Iraq Lebanon Venezuela Yemen Zimbabwe Organizations may have their own list of high-risk countries. However, the rules set by the Office of Foreign Assets Control (based in the US) tend to be followed by most countries around the world.

Risk

FICO

MARCH 6, 2020

How does your software actually work, does it connect to government databases, perform statistical analyses? For most of the public lists (EU, OFAC, UN, HMT, etc.) the KYC system provides out-of-the-box watch list loaders. Regulators want financial services providers to do more to prevent financial crime and terrorism financing.

Financial Crimes