O! is a compliance assurance agency that protects businesses by enabling them to avoid transacting with entities that have been sanctioned by OFAC. Our staff is comprised of computer programmers and mathematicians who specialize in producing reliable cloud-based technology that quickly and accurately identifies companies, people and other entities that have been targeted by any of the several OFAC sanctions programs.
By ensuring that our customers can reject relationships with criminals and those who aid them, O! protects companies and enables them to avoid supporting terrorism, human rights violations and drug trafficking. We provide the tools necessary to prevent brand damage and to comply with State and Federal regulatory demands.
Who is OFAC?
To understand us, one must first understand the US Treasury's Office of Foreign Assets Control ("OFAC"). OFAC administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States.
OFAC publishes lists of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific.
How do we work with OFAC?
O! monitors OFAC's dynamic lists of sanctioned entities and constantly compares those entities to our customers' lists of business partners. This due diligence eliminates the our clients' exposure to civil and criminal penalties that would otherwise result from transacting with sanctioned entities.
Find out more about what we do and how we do it. Feel free to try our demonstration.
O! provides constant, automatic monitoring of our clients' business partners to eliminate exposure to civil and criminal penalties that come from transacting with sanctioned entities. Our technology has been tried under fire and proven effective at identifying and eliminating exposure under OFAC sanctions programs.
We provide our manual compliance assurance pre-screening tool free of charge to our clients with unlimited user licensing. This tool can be used during the vetting process to ensure that new vendors and clients have not been sanctioned by OFAC.
After the new business partner has been acquired, our Sanctions Compliance Assurance Network ("O!SCAN") monitors all new and existing business partners by constantly comparing their identities to the entities on all OFAC sanctions lists. This automated process securely connects your enterprise software to O!SCAN to ensure a constant state of compliance using secure, industry-standard Electronic Data Interface (EDI) technology.
By constantly comparing our customers' business partners to the ever-changing OFAC sanctions programs lists, O! ensures that you know immediately when a business partner has been sanctioned. This automated process also protects our clients from internal employees who neglect to pre-screen new business partners or who deliberately add a sanctioned entity in order to aid that entity or to sabotage the employer.
What we do not do.
O! never relies on whitelists. Every business partner is vetted against all of the sactions lists from OFAC any time one of those lists is updated.
We identify and maintain a list of false positives in order to eliminate the need to constantly review entities that are similar to sanctioned entities. By identifying false positives, we ensure that "Panamericana" in Germany (a non-sactioned entity) is never mistaken for "Panamericana LTDA" in Columbia or "Panoamericana" in Panama (both sanctioned). This method does not prevent identification when an existing entity is added to a sanctions list.
Supported ERP systems
ERP systems that we already support include:
SAP ECC 4.6 and above
All other EDI-cabable ERP solutions
Any SQL-based corporate system**
*Currently supported only through flat file exchange.
**May require custom solution for EDI, most likely free.
We add new complimentary services every month, all covered by our competitive flat fee. Please contact us and let us show you how we can eliminate your company's civil and criminal exposure to sanctions violations.
Please let us know how O! can protect your business from transacting with entities that have been sanctioned by the US Treasury's Office of Foreign Asset Control. Be sure to let us know what kind of ERP solution you have in place and approximately how many entities your business needs to monitor.
Our demonstration is always avaliable regardless of the day or time. Feel free to try our validation tool.
All of the services provided by O! are covered by a single competitive fee. There are no additional hidden charges.
The competition (including Big 4 firms like Ernst & Bradstreet)
Initial screening including manual evaluation of all records and the identification of all false positives
Not available (clients have to screen their own business partners and rely on whitelists)
Access to tool for vetting business partners during the onboarding process
Licensed for hundreds of dollars per user.
Configuration of EDI and Automatic monitoring of new and changed business partners
Expensive customization costing well into the five digits.
Annual fee for monitoring a single entity against all of OFAC's sanctions lists
✝Based on 5,000 or more entities. Annual minimum is USD500. *An approximation based on quotes that our clients have shared with us.
We're analyzing business partners just like yours right now. Please contact us and let us show you how we can eliminate your company's civil and criminal exposure to sanctions violations.