ATTUS Technologies, Inc., a market leader in OFAC Compliance for over ten years, has expanded WatchDOG® Pro’s international ACH transaction (IAT) capability to include advanced, uninterrupted IAT processing in preparation for the September 2009 federal mandate.

With less than five months until the implementation of the new NACHA rules, financial institutions must finalize their preparations now in order to have everything in place and working smoothly by the September 18 deadline. With WatchDOG® Pro’s new enhancements, financial institutions gain a single solution to handle all their OFAC needs. WatchDOG® Pro fits seamlessly into your existing ACH workflow, automating the OFAC scanning process without a time consuming and costly integration effort.

“ATTUS’ goal is to give financial institutions access to an advanced OFAC scanning engine for ACH files, along with all the existing, cutting-edge technology of WatchDOG® Pro, in one product,” said Tom Fedell, president and CEO of ATTUS. “With WatchDOG® Pro, we can eliminate the need for financial institutions to purchase or integrate a separate IAT Processing product for OFAC compliance and ease their financial burden and preparation for the new rules.”  

WatchDOG® Pro’s ACH processing engine allows users to upload and scan domestic and international ACH source files. “This product is so versatile that you can choose to scan only ACH transactions, only IATs or both, depending on your institution’s needs,” added Fedell. “You can even download a rebalanced file with all the transactions that returned no matches against scanned lists.”  

Another cost saving feature that helps financial institutions’ mitigate their risk is the “Review and Resolve” function. This facilitates the appropriate due diligence on IAT files where a match is identified, including steps to resolve any false positive readings. Once the review has been completed, they can generate an IAT export file from all the transactions cleared during the due diligence process.

WatchDOG® Pro also offers significant flexibility with its automated batch processing for IAT files. The “Scan and Mark” feature leaves the source files intact but marks any OFAC-possible match transactions with the secondary screening indicator “1” for identification purposes. As an alternative, financial institutions can choose the “Scan and Split” feature which creates two segmented files:  a clean one for transactions with no matches and a suspect one with any potential matches.  

To ensure your institution is ready, you can review NACHA’s Readiness Checklist and other important information about the upcoming IAT rules change at http://www.nacha.org/IAT_Industry_Information/.

About ATTUS Technologies, Inc.

ATTUS Technologies, Inc. is an industry leader in software and services for regulatory compliance, homeland security and fraud prevention.  Over 4,000 financial institutions and other clients nationwide use ATTUS’ solutions for compliance with the requirements of the Gramm-Leach-Bliley Act (GLBA), the USA PATRIOT Act, the Office of Foreign Assets Control (OFAC), the Financial Crimes Enforcement Network (FinCEN), anti-money laundering regulations, the Bank Secrecy Act (BSA), Regulation CC and Regulation E.  ATTUS is based in Charlotte, North Carolina.   For more information about ATTUS, visit www.attustech.com.