To ensure BIOS Homes adheres strictly to OFAC compliance and other global sanctions regulations, a comprehensive system of checks and balances will be implemented. Here’s how this system will work:
✅ 1. Automated Sanctions Screening System
BIOS will integrate automated compliance software that performs real-time screening of all:
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Vendors
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Investors
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Partners
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Employees
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Subcontractors
These screenings will cross-reference:
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OFAC SDN (Specially Designated Nationals) List
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BIS Entity List (U.S. Department of Commerce)
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United Nations Sanctions Lists
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EU Sanctions List
The system will trigger alerts and flag high-risk individuals or entities before any engagement begins.
✅ 2. Internal Compliance Team
BIOS will establish a dedicated Compliance & Risk Management Team responsible for:
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Overseeing sanctions screenings
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Investigating red flags
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Providing clearance before onboarding any third-party relationship
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Regularly updating internal protocols in line with new OFAC or BIS directives
✅ 3. Mandatory KYC / KYB Protocols
Know Your Customer (KYC) and Know Your Business (KYB) policies will be mandatory:
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All individuals and entities must submit official identification, incorporation documents, and beneficial ownership disclosures.
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These documents will be verified and stored securely.
✅ 4. Ongoing Monitoring & Audits
Compliance doesn’t stop at onboarding. BIOS will:
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Conduct ongoing monitoring of relationships and transactions
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Schedule quarterly internal audits to ensure systems are operating effectively
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Partner with a third-party audit firm annually for impartial compliance review
✅ 5. Employee Training & Certification
All employees, especially those in sales, procurement, finance, and leadership roles, will receive:
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Annual OFAC compliance training
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Certification in ethics and sanctions screening
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Updates on policy changes and how to recognize suspicious activity
✅ 6. Role-Based Access Controls
To minimize risk:
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Only authorized personnel will have access to sensitive data and compliance systems
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All actions in the system will be logged for accountability and audit trails
✅ 7. Whistleblower & Incident Reporting System
A secure and anonymous internal portal will allow employees and contractors to:
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Report compliance concerns or suspicious activity
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Ensure protection from retaliation under BIOS’ ethics and transparency policies
