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MIB To Sell Prime Security Software

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NU Online News Service, Nov. 15, 10:23 a.m. – MIB Group Inc., Westwood, Mass., will be selling the OFAC Reporter software from Prime Associates Inc., Clark, N.J., in the North American insurance and annuity market.

OFAC is the Office of Foreign Assets Control, the federal agency that helps U.S. financial institutions determine which foreign companies, organizations and individuals are not allowed to do business with U.S. financial institutions because of concerns about possible links to terrorism and other illegal activities. The OFAC Reporter software runs on users’ own computers and helps users determine whether current customers or prospects are on the OFAC list.

MIB will market the OFAC Reporter software as “MIB Security Alert Software, powered by Prime Associates.”

MIB also offers its own OFAC screening service, Security Alert Services. When insurers buy the MIB service, they can check individual names by submitting queries to MIB computers. MIB itself handles screening of large batches of customer names.


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