ClickCease

OFAC Matching Software

Automate matching against OFAC Sanctions List using a combination of probabilistic, deterministic, and phonetic algorithms and ensure corporate integrity and compliance.

Did you know?

73%
Businesses that were assessed with heavy monetary penalties from OFAC
Studies reveal that 73% of businesses that were assessed with heavy monetary penalties from OFAC had no idea they were in breach and were dealing with vendors and suppliers under economic or trade sanctions by the US government. The rest identified the breach on their end before the government cracked down and avoided fines.

Why does this happen?

  • Most organizations rely on the Sanctions List Search tool, which fuzzy matches only on the “name” field.
  • Entities on OFAC blacklists are known to use name variations to bypass such checks.
  • Your vendor may have been blacklisted post-registration – regular checks are necessary.
  • Unstandardized and manually entered vendor registration data increases false negatives.

What is OFAC Matching?

The Office of Foreign Asset and Control (OFAC), a US Treasury Department division, creates blacklists of individuals and countries facing economic or trade sanctions to protect federal interests. For compliance purposes, organizations must match vendor lists, including individual transactions, against OFAC blacklists before doing business – or risk heavy penalties. Problem is, you won’t always have exact matches. Blacklisted vendors may be using pseudonyms, data could’ve been miskeyed in your vendor database – which means your data matching software may miss matches and breach regulations. Not with Data Ladder.

Real-Time Compliance

Conduct screening in real-time on every payment – OFAC watch lists are updated daily – eliminate the risk of breach.

OFAC Risk in Payables

Cross-check your payees against OFAC watch lists automatically, whether you have thousands of payments or millions.

Specially Designated Nationals

Find information spread across data sets that belong to the same entity and create a single record with complete information.

False Positive Elimination

Use advanced matching technology to eliminate false positives by setting match thresholds and assigning weight.

What You Get With Our OFAC Matching Solutions

Unmatched Speed and Accuracy

Rated faster and more accurate than IBM and SAS, DataMatch consistently had the least number of false positives in independent studies.

API-Based
Integration

Integrate our world-class data matching engine with your payment applications, vendor registration systems, etc. for real-time monitoring.

Automatic
Re-Screening.

Once you’ve set up OFAC matching strategy in a separate Project, you can reuse it indefinitely with any data set on set schedules.

Fuzzy OFAC
Matching

Prevent attempts to use similar names or alternate spellings to bypass the OFAC list by discovering non-exact matches at scale.

Trusted by The World’s Best Companies

“DataMatch Enterprise – Powerful and Easy to Use”

5/5
It does a great job with data cleansing making the matching process even more powerful and being able to merge rows with very flexible rules for the final export is extremely helpful.

“My Go-To Databse Tool; Saves Time, Increases Efficiency”

5/5
DataMatch Enterprise is easy to learn and use. It’s easy to review results. Saves us tons of time in manually checking records.

“Best Product Ever”

5/5
It makes our matching projects in a short amount of time and helps prove ROI to our clients.

Our Customers

Recommended Resources

The 3 Most Important Facts About Data Matching Software

Insurance: Minimize Risk through Data Matching

DataMatch: The Perfect Watchdog for Your Data

Ready To Start Matching Data and Grow Your Business?

During your 30-day trial, you can access DataMatch Enterprise risk-free. The software is user-friendly and easy to install – what you see is what you get! However, we recommend a 30 to 60-minute non-obligatory online consultation with one of our subject matter experts to help you get the most out of your free trial.
Do NOT follow this link or you will be banned from the site!