The OFAC optional feature in ClickClaims is designed to help users comply with U.S. Department of Treasury regulations. This feature automatically integrates the Office of Foreign Assets Control (OFAC) list into your workflow.
How It Works
- Weekly Updates: ClickClaims downloads the latest OFAC list of individuals and companies directly from the U.S. Department of Treasury weekly. This data is then used to maintain an up-to-date internal OFAC database.
- Nightly Checks: The system automatically queries the internal OFAC database each night to identify potential matches with existing "Contact" and "Vendor" records in ClickClaims.
- Email Notifications: If any potential matches are found, the system generates an email notification detailing the results, ensuring timely awareness and follow-up.
This automated process streamlines compliance efforts, reducing manual intervention and enhancing accuracy in monitoring. For a comprehensive walkthrough of the OFAC feature, including setup and usage instructions, please watch the video tutorial below.
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