OFAC VERIFICATION

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. 

Pursuant to the Patriot Act, the US Department of Treasury requires all lending institutions to scan the OFAC list during the loan application process.

MaximTrak has developed a proprietary algorithm that automatically scans each deal against the Department of Treasury, Office of Foreign Asset Control SDN (Special Designated Nationals) List.