ThreatSTOP and FiveBy are working to automate sanction compliance.
SEATTLE, WA, October 11, 2023 /24-7PressRelease/ — Many businesses are worried about the risks posed by global sanctions and anti-money laundering regulations. ThreatSTOP has partnered with FiveBy Solutions, a leading risk intelligence and fraud consultancy, to offer an automated, customizable compliance enforcement solution supporting the US Office of Foreign Assets Control (OFAC) rules. This solution is easily integrated into existing network devices – including DNS servers, firewalls, routers, and endpoints. With One-Click Sanctions Compliance, organizations will gain access to automated OFAC sanctions compliance using a network enforcement solution, providing a checkpoint against transacting with sanctioned entities and their subsidiaries.
Navigating Compliance Challenges in a Changing World
Businesses today face mounting challenges in safeguarding their firms amid an ever-evolving sanctions landscape. Rapid changes in compliance requirements, driven by geopolitical conflicts, impact internet traffic and business dynamics. Since the invasion of Ukraine, US sanctions on Russia have skyrocketed, with over 2,500 new Russian-related targets added to the Treasury Department’s SDN (Specially Designated Nationals) list. Engaging with these entities or their subsidiaries can lead to penalties, investigations, negative publicity, and business disruptions. However, identifying subsidiaries, scattered globally, requires extensive investigative and digital forensic research, intensifying the complexity of compliance.
To overcome these obstacles, compliance officers and businesses must adapt by identifying sanctioned entities and subsidiaries, and strictly enforcing all compliance requirements. Staying ahead of evolving sanctions and skillfully navigating compliance is critical to protect firm integrity and reputation.
One-Click Sanctions Compliance: Expertise Meets Technology
Introducing One-Click Sanctions Compliance: a powerful solution by ThreatSTOP and FiveBy. Automate compliance for sanctions regulations and protect your network effortlessly. The ThreatSTOP platform blocks machine-to-machine connections with sanctioned countries, entities, subsidiaries, and seized territories, preventing prohibited business engagements. Customize enforcement policies to fit your specific needs, allowing you to selectively block countries and sanctions regimes while enabling traffic on an entity-specific basis.
Save time and resources by automating compliance efforts, freeing you to focus on business growth. One-Click Sanctions Compliance provides data-backed evidence of your commitment to compliance, blocking and logging communication attempts to prevent violations. It offers internal and external network communications tracing for quick decision-making and action, enhancing your risk mitigation efforts.
ThreatSTOP is a cloud-based automated threat intelligence platform that converts the latest threat and sanctions data into enforcement policies, and automatically updates your firewalls, routers, DNS servers and endpoints to stop attacks before they become breaches. For more information, go to www.threatstop.com or contact [email protected].
FiveBy is a leading Risk Intelligence and Fraud consultancy. When it comes to risk and fraud management, FiveBy’s industry experts bring strength and clarity to protecting our clients’ profits and managing their reputations. This can be done through one-time risk assessments, or ongoing managed services.
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