Verifications, Inc. Offers Patriot Act and OFAC Compliance Program

Verifications Offers Program to Assist Companies in Compliance Initiatives with the Patriot Act and Executive Order 13224

Minneapollis, MN — February 11, 2004—Verifications, Inc., the leading national provider of employment screening services today announced their Patriot Act and OFAC Compliance Program. The program is a comprehensive, outsourced program designed to help companies comply with Executive Order 13224, the USA Patriot Act of 2001 and the Office of Foreign Assets Control (OFAC) economic sanctions. The program is built upon Verifications’ Global Watch Alert, which provides access to a comprehensive set of government controlled watch lists.

As part of the program, Verifications screens all names provided by a client using the Global Watch Alert and then researches all matches to validate actual hits. Upon verification, all such “hits” are immediately reported to the client. Verifications manages all aspects of the program including electronic acquisition of names from each client, initial screening of all names, research of potential matches, reporting and ongoing monitoring of all screened names for potential future hits.  “Many businesses need help complying with federal regulations regarding corporate security.” said Jerry Hatton, Verifications Chief Operating Officer. “The research we perform is typically not one of their core competencies and it would be difficult for them to keep up to date on all of the regulatory changes. Our program provides businesses with a rapid and cost effective solution to keep them in compliance and strengthen their corporate security.”

Program services include:

• Name Screening - all supplied names are screened using Verifications’ Global Watch Alert.

• Match Research - research all matches returned during the screening process to validate actual hits.

• Screened Names Monitoring - continuous monitoring of all names that have been screened that might be added to the Control Lists after the initial screening.