The banks and financial institutions play a significant role in stimulating and expanding the economy as well as the volume of imports and exports. U.S. financial institutions are in fact quite competitive, serving the individuals, firms and investments internationally. On the other hand, financial sector is known to have the risk of being used by criminals to support enterprises, ranging from money launderers and mortgage fraud rings to terrorist finance networks. U.S. Treasury Department -The Financial Crimes Enforcement Network (FinCEN) administers the enforcement of anti-money laundering rules for banks and financial institutions. As such, these firms are required to comply with the OFAC regulations. Screening customers and trade partners against OFAC and other government agency restricted party lists help staying compliant with the regulations.
Having an extensive background in EAR and OFAC regulations, Intredex experts can assist banks and financial firms with several solutions ranging from a web-based software for trade party screening and transaction analysis to export classifications and compliance program assessments.
Some of the provided compliance services include:
OFAC & EAR Compliance
Web based Restricted and Denied Party Screening software
Web based Trade Partner Compliance Management software
Compliance assessment and audits
Internal compliance program preparation
Onsite training by our experienced instructors
Processing EAR and OFAC license applications
Processing licenses for hiring/employing non-U.S. nationals
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Integrated Trade Compliance Software Solutions
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