SimpleOFAC Suite Solution overview

Simple OFAC Suite™ is built on the idea that OFAC compliance tools can be more intuitive, efficient, and useful. It uses the latest Web 2.0 (AJAX) and innovative indexing and search technology, providing user friendly interface, high performance, and quality. It is an open and extensible platform and it supports various API and web services interface. It can be easily integrated with your existing system or customized to match to your business processes.

SimpleOFAC Suite™ Compliance Software consists of the following major components:

  1. List Management.

    Manage sanction list. It supports the list upload. The following lists are supported, and a new plugin can be added easily to support a new list: BIS-DPL, BIS-UNVENRIFIED, CIA WORLD LEADER, EU, HUD-LDP, NS-PLC, OCC UNAUTHORIZED BANK LIST, OFAC SDN, OFSI ENTITY, OFSI INDIVIDUAL, STATE-DEBAR, and UK-HM.

  2. Screening Management.

    Manage screening engines. The screening engine scans texts/messages against the sanction lists and gives alert or no alert results.

  3. Case Management.

    The alert results can be loaded into Case Management for review. It has a build-in algorithm to detect duplicated texts/messages.

  4. Workflow.

    It has a build-in configurable workflow for watch list alerts and cases.

  5. Report.

    It has various build-in reports. Adding a new report is easy by simply adding a new Jasperreport template.

  6. Administration.

    The compliance manager or system admin can manage users(access person) with role, group, and org unit code.

  7. Resources.

    Resource is the center place to manage some entities that are used within the system. Those are File Format and Drop-downs.

  8. Analysis tools

    • Free Text Lookup: It is a very useful browse-based tool used to scan any text or message using the screening engine service.
    • SimpleOFAC Client: It is a Java utility and runs on the user’s desktop. It takes a customer file as input and scans the file against the screening engine service and generates statistics, such as the number of alerts, hits, and their match term that each sanction list entry receives.

    Both of them can be used as a test tool to test screening engine service and the sanction lists. This helps users to do the tuning of the sanction list itself (create Exception (good guy), or exclude AKA) and/or on the parameter settings on screening engine service (setting threshold, scan mode, etc.).

The Glossary contains common terms used in this document.