ID and OFAC Caution
If you are using an automated OFAC checker, be sure you don't rely on it for the wrong things. All the OFAC checker does (and this is important by itself) is check the applicant's name against the OFAC list. The checker does not scrutinize and evaluate the quality or validity of the identification document offered by the customer. You must still do this with separate procedures - and training.
Copyright © 2004 Compliance Action. Originally appeared in Compliance Action, Vol. 9, No. 12, 11/04
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