SoftPro releases new Patriot Act compliance product

FinCEN Customer Due Diligence Rule
FinCEN Customer Due Diligence Rule

SoftPro released its new Patriot Search product, allowing SoftPro users to comply with the USA Patriot Act. SoftPro is making Patriot Search available through its business exchange platform, SoftPro 360.

SoftPro’s Patriot Search will provide the ability to compare individuals and/or companies from their SoftPro orders to the Specially Designated Nationals (SDN) List maintained by the U.S. Department of Treasury. The USA Patriot Act prohibits financial transactions with persons and organizations listed on the SDN List, and SoftPro’s Patriot Search will ensure those parties are not prohibited persons or entities before transacting business with them.

“The new Patriot Search application provides our customers with a quick, easy to use tool to insure their compliance with the USA Patriot Act,” SoftPro President Joyce Weiland said in a press release. “The complete integration with their SoftPro closing software lets them check against the SDN List without having to rekey any data.”

In addition to allowing SoftPro users the ability to check the SDN List on an ongoing basis, Patriot Search will alert users to take any further necessary actions with the Department of Treasury. Patriot Search’s reporting capabilities also provide evidence of their search and due diligence that attaches to their SoftPro file.

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