• The OFAC / EDD Server works to assist

financial institutions within the Enhanced Due

Diligence process by facilitative search of

blocked entities and Politically Exposed

Persons (PEP).

• The OFAC / EDD Server is continuously

updated with Proprietary PEP lists and

sanctions lists such as those from the US

Office of Assets Control (OFAC) and the Bank

of England (BOE).

• The financial institution may include its own

private and supplemental lists as part of

verification. The Search History function within

the server is designed to comply with FinCEN

requests and subpoenas.

• Wires – Both incoming and outgoing

wire transfers are monitored against

blocked entities contained in published

lists such as OFAC, BOE and other

supplemental private lists.

• SWIFT – As with wire transfers, incoming

and outgoing processes are scanned to

prevent blocked entities within both

published and private lists.

• ACH – ACH originated files or messages

received from the Fed are scanned and

protected against blocked entities

contained in published lists such as OFAC

and BOE. This includes supplemental

private lists as well.

• FinCEN - 314A Requests from FinCEN

are processed immediately. FinCEN lists

are scanned against customer information

and transaction history.

• Customer Information – OFAC / EDD

Server accommodates Enhanced Due

Diligence on customer accounts and all

related parties such as Signatories,

Beneficiaries, and Power of Attorneys.

• Customer information is continuously

cross checked against PEP databases

and blocked lists.

• Letters of Credit – Information on

significant parties in a Letter of Credit is

examined against BIS and other lists from

the Department of Commerce, OFAC and

private databases.

• Other platform, loan or credit system-

based bank applications may interact

with OFAC / EDD Server to filter their

data for OFAC and other lists. This is

performed in real-time through a

messaging interface between

applications.

• The OFAC / EDD Server can be

specified to process data by using files

or online messages over MQ Series.

These include FedWire, SWIFT and

ACH transactions in their native format.

• The OFAC / EDD Server monitors and scans lists

published by the US Office of Assets Control (OFAC),

the Bank of England (BOE) and further sources. The

server is designed to streamline processes involved

to protect against unauthorized entities.

• In addition, the OFAC / EDD Server helps in assisting

banks in accordance to Enhanced Due Diligence

(EDD) through searching databases such as

Politically Exposed Persons (PEP).

• The Search History function within the server is

designed to comply with FinCEN requests and

subpoenas by examining client databases and

transaction history.

• Ocean Systems provides

specialized, comprehensive and

innovative software solutions to

assist in preventing fraudulent

behavior. Ocean Systems has grown

to be leaders in software compliance

solutions since 1991.

• Ocean Systems shares a common

goal of connecting experience,

creativity and technology to provide

banking and financial solutions in

compliance with corresponding

sections of the US PATRIOT Act.

Visit us online today to learn more.