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White Paper, Expert Available: Understanding the Ins and Outs of OFAC

Computer Services, Inc.:

What:

        In light of recent high-profile regulatory fines and widespread attention on the potential strain Bitcoin may present to the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) sanction programs, OFAC’s reach has moved beyond the financial services industry and into additional markets ranging from automobile, boat and motorcycle dealers to nonprofit organizations.
 

The increasing focus on OFAC compliance has made many businesses keenly aware of the need to better screen transactions against the OFAC Specially Designated Nationals (SDN) list, which details the specific individuals and entities with whom all U.S. citizens and businesses are prohibited from doing business. In order to help organizations gain the knowledge and tools required to successfully tackle OFAC compliance, Computer Services, Inc. (CSI) (OTCQX: CSVI) has published a new white paper detailing the basics of OFAC compliance and specific steps businesses should take to ensure the success of their efforts.

 

Who:

Keith Monson, CSI’s vice president of application compliance, is available to provide his expert commentary on how businesses and organizations can effectively manage OFAC compliance and avoid potential fines and penalties for failing to meet the required regulations. Monson also can provide deeper discussion on the key points detailed within the white paper, including:

• Key regulatory penalties from OFAC;

• OFAC’s application across multiple industries;

• Basic requirements of OFAC’s sanctions programs; and

• Best practices for streamlining OFAC screenings.

 

Paper:

To download the full report on “Understanding OFAC,” please visit http://www.csiweb.com/Resources/Overview/WhitePapers.aspx.

 

Contact:

To schedule an interview with CSI or request a byline contribution on the latest in regulatory compliance for the financial services industry, contact:

David Jones, 678.781.7238 or

Stephen Sprayberry, 678.781.7207.
 

About Computer Services, Inc.

Computer Services, Inc. (CSI) delivers core processing, managed services, mobile and Internet solutions, payments processing, print and electronic distribution, and regulatory compliance solutions to financial institutions and corporate customers across the nation. Exceptional service, dynamic solutions and superior results are the foundation of CSI’s reputation and have resulted in the company’s inclusion in such top industry-wide rankings as the FinTech 100, Talkin’ Cloud 100 and MSPmentor Top 501 Global Managed Services Providers List. CSI’s stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.

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