Accounts payable professionals in small to mid-size businesses are unsure whether they need to screen vendors against OFAC sanctions lists to avoid severe penalties, and lack a clear process or tool to do so.

Existing solutions (W-9 and TIN matching) do not check vendors against OFAC sanctions lists, leaving businesses exposed to penalties for unknowingly paying sanctioned entities. No integrated, easy-to-use screening tool exists for small businesses that don't have dedicated compliance teams.

Severity

3Medium

Willingness to Pay

implied

Added

May 29, 2026

Implied Software Gaps

Automated OFAC screening tool that integrates with accounting software to check vendors before payment

App Concept

SanctionScan

SanctionScan is a simple, automated vendor screening tool that checks every new vendor against OFAC SDN and other sanctions lists before payment. It integrates with QuickBooks, Xero, and other accounting software to flag risky vendors in seconds, reducing compliance risk without adding manual work.

Key Features

Automated OFAC screening of vendors upon W-9 submission
Real-time alerts for potential matches with sanctions lists
Integration with QuickBooks, Xero, and other accounting platforms
Audit trail and compliance reporting for internal records

Target Users: Bookkeepers and accounts payable departments at small to mid-size businesses across industries that need a cost-effective way to ensure vendor compliance without hiring compliance officers.

Revenue Model: $29/month per user SaaS subscription; free tier for up to 50 screenings per month

Existing Solutions Mentioned

W-9sTIN matching

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