The Office of Foreign Assets Control (OFAC) administers a series of laws that impose economic sanctions against hostile targets to further U.S. foreign policy and national security objectives.
Red Flag - ID Theft Prevention and OFAC
Red Flag IQ has 2 components:
1. ID Theft Prevention
2. Standalone OFAC searches
Red Flag Rules are impacting every organization that functions as a creditor. The new compliance regulations can seem overwhelming. Integra Systems provides simple solution to a complex problem.
Our solutions can be customized to make ID theft prevention and OFAC compliance efficient.
Red Flag IQ is a simple web based solution that provides you the ability to search only what you need to search. We provide options for low volume and high volume searches based upon our customer's needs.
We focus on ID theft and fraud to protect your organization and your customers so you do not have to worry. Red Flag IQ is a web based product designed specifically to help you comply with the regulatory requirements administered by the Department of the Treasurys Office of Foreign Assets Control (OFAC), and Federal Trade Commissions (FTC) Red Flag Requirements (ID Theft Prevention).
The requirements are universal to all industries. Non-compliance can be costly, but can be avoided by utilizing the correct resources. Red Flag IQ can help any industry become and remain compliant.
Our integration options help you become compliant with our custom solutions tailored to fit your in-house systems and processes.
The Office of Foreign Assets Control ("OFAC ") of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries, terrorists, international narcotics traffickers, and those engaged in activities related to the proliferation of weapons of mass destruction.
OFAC acts under Presidential wartime and national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze foreign assets under US jurisdiction. Many of the sanctions are based on United Nations and other international mandates, are multilateral in scope, and involve close cooperation with allied governments.
Source: U.S. Treasury Department Website