The OFAC / EDD Server works to assist financial institutions within the Enhanced Due

Diligence process by facilitative search of

blocked entities and Politically Exposed

Persons (PEP).

The OFAC / EDD Server is continuously updated with Proprietary PEP lists and

sanctions lists such as those from the US

Office of Assets Control (OFAC) and the Bank

of England (BOE).

The financial institution may include its own private and supplemental lists as part of

verification. The Search History function within

the server is designed to comply with FinCEN

requests and subpoenas.

Wires Both incoming and outgoing wire transfers are monitored against

blocked entities contained in published

lists such as OFAC, BOE and other

supplemental private lists.

SWIFT As with wire transfers, incoming and outgoing processes are scanned to

prevent blocked entities within both

published and private lists.

ACH ACH originated files or messages received from the Fed are scanned and

protected against blocked entities

contained in published lists such as OFAC

and BOE. This includes supplemental

private lists as well.

FinCEN - 314A Requests from FinCEN are processed immediately. FinCEN lists

are scanned against customer information

and transaction history.

Customer Information OFAC / EDD Server accommodates Enhanced Due

Diligence on customer accounts and all

related parties such as Signatories,

Beneficiaries, and Power of Attorneys.

Customer information is continuously cross checked against PEP databases

and blocked lists.

Letters of Credit Information on significant parties in a Letter of Credit is

examined against BIS and other lists from

the Department of Commerce, OFAC and

private databases.

Other platform, loan or credit system-based bank applications may interact

with OFAC / EDD Server to filter their

data for OFAC and other lists. This is

performed in real-time through a

messaging interface between

applications.

The OFAC / EDD Server can be specified to process data by using files

or online messages over MQ Series.

These include FedWire, SWIFT and

ACH transactions in their native format.

The OFAC / EDD Server monitors and scans lists published by the US Office of Assets Control (OFAC),

the Bank of England (BOE) and further sources. The

server is designed to streamline processes involved

to protect against unauthorized entities.

In addition, the OFAC / EDD Server helps in assisting banks in accordance to Enhanced Due Diligence

(EDD) through searching databases such as

Politically Exposed Persons (PEP).

The Search History function within the server is designed to comply with FinCEN requests and

subpoenas by examining client databases and

transaction history.

Ocean Systems provides specialized, comprehensive and

innovative software solutions to

assist in preventing fraudulent

behavior. Ocean Systems has grown

to be leaders in software compliance

solutions since 1991.

Ocean Systems shares a common goal of connecting experience,

creativity and technology to provide

banking and financial solutions in

compliance with corresponding

sections of the US PATRIOT Act.

Visit us online today to learn more.