White Paper, Expert Available: Understanding the Ins and Outs of OFAC
May 21 2014 - 1:00PM
Business Wire
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.
For CSIDavid Jones, 678-781-7238orStephen Sprayberry,
678-781-7207
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