NU Online News Service, Jan. 28, 4:15 p.m. – Computer Sciences Corp., El Segundo, Calif., has introduced two services that will help financial services companies avoid doing business with individuals and organizations on the list of “Specially Designated Nationals and Blocked Persons” developed by the federal Office of Foreign Assets Control.
The OFAC list includes suspected terrorists, drug traffickers and money launderers. The new USA PATRIOT Act imposes stiff penalties on life insurers and other financial services companies that do business with persons on the OFAC list.