OFAC — Office of Foreign Assets Control
Office of Foreign Assets Control — the US Treasury agency administering sanctions. paype screens all transactions in real time.
Office of Foreign Assets Control — a bureau of the US Department of the Treasury that administers and enforces economic and trade sanctions based on US foreign policy and national security goals.
What OFAC does
OFAC maintains lists of sanctioned individuals, entities, and jurisdictions — including the SDN (Specially Designated Nationals) list. Any US financial institution or person transacting with a sanctioned party faces severe civil and criminal penalties.
How paype screens
paype runs real-time OFAC screening on every transaction and account — names, addresses, and counterparty details are checked against the current SDN list and other OFAC watchlists before any funds move. This happens in milliseconds in the background.
For you
You never see this process. If a transaction triggers a match, it is flagged for review before processing. Accounts that are confirmed matches are blocked in compliance with federal law. This screening is not optional for a FinCEN-registered MSB.