Greetings,

Would anyone have a list of types of OFAC-related transactions that their Compliance Department created? This would be a list telling other departments in your financial institution when they need to contact Compliance personnel before completing a transaction.

Background: Given the numerous rules needed to comply with OFAC’s regulations, my institution requires Wires, Fraud, and other department to route certain transactions to our Compliance Dept for approval. I’m trying to narrow down the types and nature of transactions these departments route to Compliance.

In summary, if anyone has a list of OFAC-related transactions that their Compliance Dept has created, could you forward it to me?

Thank you

we didn't create OFAC transaction types. OFAC (and other sanctions lists) are entity-based, so any transaction that flows electronically is scanned. who resolves the hits is driven by the matching score. Above a certain score, Compliance makes the call.