How Does it Apply to Background Screening? The Office of Foreign Assets Control (OFAC) is part of the U.S. Treasury. It was initially created to keep lists of foreign individuals or companies that are not allowed to do business with the U.S.
Then OFAC’s focus has shifted since 9/11, however. The OFAC records search looks for individuals and entities working in targeted countries considered hostile, in hopes of locating terrorists in our business communities.
Banks and insurance companies are not allowed to hire anyone who is on the OFAC records list. As a result, OFAC alerts can sometimes show up on credit reports. Credit reports are often part of loans or insurance applications.
What should you do if that occurs? The problem with the OFAC lists is that they usually just contain a name, possibly with aliases, possibly with no date of birth or perhaps an erroneous one, and no address other than city and state.
If that happens, we at Legal Locator Service can help navigate the issue, to ensure mistakes are not made. It’s a complicated issue, one which we can help you with. Call us at 866-225-2435 (toll-free) or 503-697-5821. We are an Oregon Certified Women-Owned business established in 1996. Multilingual speaking office.