Disbursement processing system with integrated Office of Foreign Asset Control compliance

摘要

A method for processing a disbursement transaction received from an accounting system includes verification that the payee of the disbursement transaction is not a Specially Designated National or Blocked Person, as designated by the Treasury Department's Office of Foreign Asset Control. The method includes receiving a plurality of character strings, each representing a Specially Designated National or Blocked Person. A plurality of alternative character strings are developed, each being a variation of the character string representing a Specially Designated National or Blocked Person. A comparison file includes a plurality of comparison character strings which comprise each of the plurality of Specially Designated National character strings and each of the plurality of alternative character strings. A disbursement transaction is received from the accounting system and an output payment is generated only if a payee character string of the disbursement transaction does not match any of the comparison character strings.