ThreatSTOP and FiveBy provide a unique combination of sanctions expertise and threat intelligence automation, which keeps companies OFAC sanctions compliant in a rapidly changing regulatory environment. Find out what OFAC sanctions violations could mean for your company and how ThreatSTOP and FiveBy make it easy to stay in compliance.
Why is OFAC compliance important?
It is the law! The Department of Treasury has listed specific countries, entities, and subsidiaries with which US commercial entities may not do business. Violations of these sanctions can be extremely painful, including massive fines and even jail time. While prosecutions have been fairly rare in the past, they are ramping up - and the penalties have been increasing. This is why it is important for companies to make an effort to prevent transactions that could put them in violation - ignorance is not a valid defense.
Is my company subject to OFAC sanctions compliance?
If you are directly or indirectly transacting business with potential sanctioned entities, the answer is yes. Direct transactions could be an internet-accessible user portal or API, where you should not be providing access or services to restricted entities. Indirect transactions could be mortgage transactions or drop shipping products to overseas organizations. It's not always easy to tell, but if your company is in any way related to international transactions you are likely subject to OFAC sanctions compliance.
FiveBy - Experts in OFAC compliance
ThreatSTOP has teamed up with FiveBy, who are respected experts in regulatory compliance, and have focused on OFAC sanctions. While identifying which IPs belong to sanctioned countries is relatively easy, the FiveBy team takes the published OFAC data and turns it into information that can be used to identify specifically sanctioned individuals and organizations, as well as their international subsidiaries. This information is processed by the ThreatSTOP team to update lists of domain names and IP addresses belonging to the sanctioned entities.
ThreatSTOP - Experts in automated Threat Intelligence Enforcement
ThreatSTOP is famous for being able to process large volumes of threat intelligence data, and for automating the distribution of that data into enforcement devices such as firewall, WAFs, and DNS filters. OFAC information is very much like a typical threat intelligence feed, so ThreatSTOP keeps your company's devices updated with the latest sanctions data - and provides comprehensive reporting that proves OFAC compliance.
ThreatSTOP and FiveBy: the Easy Button for OFAC compliance
ThreatSTOP and FiveBy are the most cost-effective, turn key solution for complying with OFAC sanctions. Together they provide the best sanctions data available and actively enforce it on your company's existing network infrastructure.
ThreatSTOP users can add the following standard protection bundles to enhance their OFAC compliance: OFAC Sanctioned Countries IPs and OFAC Sanctioned Countries ccTLDs.
For users who want the most comprehensive OFAC protection, add the FiveBy Premium bundles from the ThreatSTOP Marketplace. OFAC Sanctioned Entities and Subsidiaries IPs, and OFAC Sanctioned Entities and Subsidiaries - Domains. Also see One-Click Sanctions Compliance here.
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