OFAC

by Debra R. Richardson If your company is a U.S. entity and your function is vendor setup and maintenance, you most likely are already familiar with the requirement to check your vendor’s legal… Read More

Q. What are the best websites to use for checking supplier name, address and TIN to make sure the… Read More

Q. We manually verify our vendors using IRS OFAC screening before they are added to our system.… Read More

Q. What is included in an OFAC check? I know we should be checking for the name/business of who we… Read More

Q. In your experience, what is the standard timing to OFAC screen a vendor once they have been set… Read More

Q. I checked a TIN, and the Name/TIN combination matched the IRS records, but the search returned… Read More

Q. If we periodically run supplier reports against the OFAC list, how long should we keep the file… Read More

If you haven’t heard of OFAC and don’t know what the SDN list is, your company could find itself facing significant fines. The Office of Foreign Assets Control is an agency of the U.S. Treasury… Read More

By Pam Miller, APMD One way to remember the Foreign Corrupt Practices Act of 1977 (FCPA) is that it rhymes with SPCA—the organization that takes care of strays. Interestingly, the FCPA also takes

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Question: What do the following have in common - American Tune Up, First Ocean Administration GMBH, FMF General Trading LLC., Logistic Smart Limited, Pentane Chemistry Industries, Pearl Energy… Read More