When you're trying to get the most out of your business and the way that it operates, it pays to place a focus on money laundering. Today, close to $2 trillion each year is laundered throughout several different industries. As such, the federal government pays careful attention to any red flags that might indicate money laundering activity. They have a set of compliance standards in place as well, as outlined by the Office of Foreign Assets Control (OFAC).

This Department of Treasury based agency issues inspections and audits, and when your company isn't in compliance, you could be leaving yourself open to serious penalties. With this in mind, you can use the points below to make certain that you're remaining in compliance through OFAC training and other measures. 

Understand what dictates OFAC compliance and what this means for your company

Before you can be certain that your company is in compliance with OFAC standards, you will need to understand what it entails. This department requires you to take a risk-based approach and put your own controls in place. You need to be careful about keeping accurate records as well, and ensure that everyone in your workplace goes through OFAC training. There are several OFAC compliance software platforms that you can look into in order to keep your company free of any risks that might come about. 

Try out a few platforms until you figure out which you prefer, and put the right strategies to use. 

Establish self-policing proactive measures in your company to remain in compliance and protected

In order to get what you need out of your anti-money laundering efforts, it's important that you set your company up to succeed in this regard. Look into establishing commitment from the top and that you always have the screening technology that you need. 

Setting up these internal controls is more possible when you reach out to professionals that can offer you every service that you need. For instance, in addition to compliance software, they can offer you and your employees OFAC training that teaches everyone what they should know. This will strengthen the policies that you put into place and allows your company to be prepared and aware. 

Reach out to a company that can assist you with any sort of compliance training and certification that you might need. Follow these tips and touch base with some pros that can assist you.