We are looking to matchup our vendor master to the OFAC list. Any suggestions on the best method?

Follow

We suggest you consult with your IT department. You can obtain OFAC’s SDN list from the web site of the Department of the Treasury in ascii or XML format.

You need a program to run a comparison of the SDN list and your vendor list, but note that it really requires more than a simple comparison. There are a number of compliance software products designed to handle the particular kind of matching required in a comparison of a vendor master file and the SDN list – i.e. the software should have near-match capabilities – and ideally facilitate next steps when a match or near match is discovered. For a partial list of such solutions, see OFAC (& Anti-Money Laundering) Compliance Resources .

Along with an SDN check, if your vendor master file needs a thorough scrubbing, you may be interested in one of TAPN’s Master File Solutions Suites.

Have more questions? Submit a request

Comments