OFAC Screening Software

OFAC screening software is any automated system that checks names, entities, or wallet addresses against OFAC's sanctions lists before a transaction is processed. The market ranges from free APIs (5 checks/day) to enterprise platforms costing $50,000+/year with custom rule engines and multi-jurisdiction coverage.

Screening methods

• Exact matching: Fastest, lowest false-positive rate, but misses aliases and near-matches.
• Fuzzy matching: Phonetic and string-similarity algorithms — catches aliases and spelling variations at the cost of more false positives.
• AI/ML matching: Emerging category — uses machine learning to reduce false positives while maintaining catch rates.