OpenFlex Introduces New OFAC

In August 2004, OpenFLEX introduced a new OFAC (Office of Foreign Assets Control) to help California FAIR Plan follow the USA PATRIOT Act of 2001.

OpenFLEX’ package includes consulting services that serves to establish internal OFAC auditing procedures and compliance policies, identity-search technology to match customer names against the OFAC list of blocked names, and system integration services to deploy the technology inside current policy admin system - AIMS-I. It integrates OFAC matching, queuing, suspense, transaction logging, and form letter processing for new business application in seamless flow. Easy of use is reflected in linking relevant information by a single click of mouse.