DALLAS — Ristken Software Services (Ristken), a provider of software solutions for the automotive industry, has announced it is providing free OFAC checks to the retail automotive industry.
The Department of Treasury's Office of Foreign Assets Control (OFAC) regulates a set of laws and sanctions against targeted foreign territories, terrorist networks and drug trafficking organizations and individuals. To assist this effort, OFAC publishes a Specially Designated Nationals (SDN) list of individuals and organizations of this nature. All U.S.-based companies are required by law to comply with these regulations, by checking their existing and prospective customers against the SDN list.
While some companies charge as much as $1,200 per year for this service, Ristken is offering it at no cost, providing automotive dealers with an easy way to comply with what has become an industry standard, and an obvious national security concern.
"In today's world, we must take proactive steps to help make this country a safer place, and OFAC checks are one measure the government has put in place to ensure that happens," said Patrick DeMarco, vice president of business development, Ristken. "We want to make it easier for the automotive industry or any industry for that matter to comply with these standards, and by providing OFAC service checks free of charge, we're making that possible."
The free OFAC check software program can easily be accessed by visiting Ristken's Web site at http://www.ristken.com.