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Life Health > Life Insurance

CSC Unveils PATRIOT Act Services

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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.

CSC’s PATRIOT Protector service is a Web service that will check the names of prospective customers and vendors against the OFAC list.

The Compliance Assessment service is a program that will assess the ability of life insurers, property-casualty insurers and annuity issuers to comply with the USA PATRIOT Act.


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