OFAC: What it is and what you as a language services client need to know about it.
Full service translation agencies make sure your documents are translated and formatted correctly; however, we also work with you to protect your documents and to make sure your company is compliant with relevant rules and regulations.
One such regulation is implemented by the Office of Foreign Assets Control (OFAC), part of the U.S. Department of Treasury. OFAC maintains a list of Specially Designated Nationals and Blocked Persons (SDNs), which includes organizations or individuals known to deal with embargoed countries or terrorist organizations. U.S. businesses and individuals are prohibited from doing business with these SDNs, and penalties may be imposed when there are interactions, intentional or not, with individuals or organizations from this list. As a full service translation agency, The Geo Group makes sure your company remains in compliance with OFAC rulings.
Choosing OFAC compliant translators and editors is just one part of an overall quality check for linguists; they also need to be professionals in their area of expertise and native speakers of the target language, with years of demonstrated translation experience and references. We have a quality assurance policy which will ensure that the translators and editors who work with your documents comply with OFAC rulings. We monitor the SDN list for your protection and peace of mind.
Visit the U.S. Department of Treasury’s website for more information: http://www.treasury.gov/about/organizational-structure/offices/Pages/Office-of-Foreign-Assets-Control.aspx