Office of Foreign Assets Control Policy

Updated 03/29/2023
As a US-based company, BixBeta Inc is committed to complying with the regulations set by the Office of Foreign Assets Control (OFAC), which is an agency of the US Department of Treasury responsible for enforcing economic and trade sanctions against targeted countries, entities, and individuals. The following is BixBeta Inc's OFAC compliance policy and procedures:

Sanctions and Screenings

BixBeta will conduct sanctions screening of all customers, vendors, and other third parties to ensure they are not listed on OFAC's sanctions list. This screening will be done before any business relationship is established and will be repeated periodically throughout the duration of the relationship.

Customer Due Diligence

BixBeta will conduct due diligence on all customers to ensure they are not listed on OFAC's sanctions list. This due diligence will include obtaining identifying information such as name, address, and date of birth, as well as reviewing customer information against the OFAC sanctions list.

Transaction Monitoring

BixBeta will continuously monitor transactions for suspicious activity that may indicate a violation of OFAC regulations. This monitoring will include reviewing transaction records, monitoring transaction volumes, and analyzing transaction patterns.

Compliance Program

BixBeta has implemented a comprehensive compliance program that includes policies and procedures for identifying, preventing, and mitigating OFAC compliance risks. The program includes:

a) Designation of a Compliance Officer responsible for overseeing the OFAC compliance program.

b) Development of written policies and procedures for OFAC compliance.

c) Regular training of employees on OFAC compliance policies and procedures.

d) Periodic testing and review of the OFAC compliance program to ensure it is effective and


BixBeta will report any suspected OFAC violations to the appropriate authorities, as required by law. BixBeta is committed to complying with all OFAC regulations and will take appropriate steps to ensure that its policies and procedures are effective and up-to-date. BixBeta Inc recognizes that OFAC compliance is an ongoing process and will continue to monitor and update its policies and procedures as necessary to ensure compliance with all applicable regulations.

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