Patriot Act Compliance Check

Patriot Act Compliance Check

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 The official name of the statute is "The Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act." It was passed by the Senate (S.1510) on October 11, 2001 and the House (HR 3162) on October 24, 2001 and was signed by President Bush on October 26, 2001; thus becoming Public Law 107-56. The Act strengthens existing requirements and enacts new regulations dealing with terrorism, homeland security and financial disclosures to prevent the funding of terrorist activities, domestically and abroad.

As part of its enforcement efforts, the Office of Foreign Asset Control (OFAC) publishes a list of individuals, companies and other entities owned or controlled by, or acting for or on behalf of, targeted countries. The list also includes individuals, groups and entities, such as terrorists and narcotics traffickers, designated under programs that are not country-specific. Collectively, such individuals, companies and other entities are called "Specially Designated Nationals" or "SDNs". The assets of SDNs are blocked and US persons are generally prohibited from dealing with SDNs.

Our Patriot Act Search is a Certified Search of the list of "Specially Designated Nationals and Blocked Persons" (SDN's), published by the Office of Foreign Asset Control (OFAC) of the U.S. Department of Treasury.

Effective September 24, 2001, President Bush issued Executive Order 13224, (as amended by Order 13268) which requires anyone conducting a financial transaction to determine if the person(s) with whom they are doing business are listed on the Blocked Persons List. In addition, the USA Patriot Act of 2001 requires similar checks and procedures.

Reporting Notification:
Procedure for Reporting a "Specially Designated National and Blocked Person" as per the USA Patriot Act and Executive Order Number 13224

Once a person or entity has been identified as listed on the "Specially Designated Nationals and Blocked Persons" list, you must block and report any transaction involving these names or person within 10 days to:

Office of Foreign Asset Control (OFAC),
US Department of Treasury
Washington, DC  20220
Phone 202-622-2490
Fax: 202-622-1657
Special Hotline: 800-540-6322