OFAC Search Tool
Agents of Delaware, Inc. is pleased to offer an automated method of searching the U.S. Treasury’s Office of Foreign Asset Control’s (OFAC) Sanctions Program Listings. OFAC regulations prohibit transactions with certain persons and organizations listed on the OFAC website as “Terrorists” and “Specially Designated Nationals and Blocked Persons,” as well as listed embargoed countries and regions. Firms must check this list on an ongoing basis to ensure that potential customers and existing customers are not prohibited persons or entities and are not from embargoed countries or regions before transacting any business with them.
The OFAC SDN Search
The SDN search is modeled after the U.S Department of the Treasury’s latest guidelines which call for names searches to be based on fuzzy logic. The search algorithm utilizes two matching techniques; the first involves character similarity and the second involves phonetic matching. The search returns not only exact matches, but partial matches that meet a minimum score which is an optional parameter in the API. The higher the minimum score, the fewer results will be returned.
For more information on the guidelines used, please visit: http://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/fuzzy_logic.aspx
The API allows for customized searches and result types. For example, a search can examine only entities, ignoring aliases and return only matches with a score greater than 90.