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Flag payments to Specially Designated Nationals, Global Terrorists, and Blocked Persons

PayFlag is designed to work together with PayPilot to match payee names with those posted on the OFAC list. The US Treasury Department’s Office of Foreign Asset Control (OFAC) enforces sanctions policy based on the Presidential Declarations of National Emergency.

Presidential Executive Order 13224, issued on September 23, 2002, holds financial institutions responsible for all payments made to persons or entities listed on the master list of Specially Designated Nationals, Global Terrorists, and Blocked Persons. The master list contains over 8,000 names, including variations, of individuals, government entities, companies and merchant vessels located around the world.

PayFlag ensures that you don’t make payments to entities blocked by OFAC. An intuitive, menu-driven solution which seamlessly integrates with PayPilot, PayFlag is easy to install and implement.

PayFlag Features

  • Automatically scans your payments during the PayPilot import process
  • Checks for compliance as you enter manual payments
  • Scans historical payment database for OFAC matches
  • Easily updates the master list so your information is always current
  • Identifies any items that match the master list; changes status and prohibits payment
  • Generates an exception report containing all names matching the OFAC master list

Other Applications

The following applications are designed to work hand-in-hand with PayFlag:

"PayFlag" is part of the PayPilot line of products, developed by Prelude Software.

Related Products

The following software product lines are also offered by Prelude Software: