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OFAC (Office of Foreign Asset Control)
The part of the US Treasury Department responsible for enforcing United States economic and trade sanctions.
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Lockbox
Lockbox refers to banking in which the funds are placed in a physical storage unit (such as a post office box). A bank would then visit the box, take the funds, and process them accordingly.
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Virtual Terminal
A virtual terminal enables the ability to accept electronic credit card, debit card, and ACH transactions over nearly any Internet-enabled device. Learn More
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