Hello,

The OFAC search module provided by our Core service provider does not currently have any sensitivity settings, so names must be spelled 100% correctly for a good match.

I am thinking about having the Wire department use the FINCEN OFAC search tool for foreign wires, etc. I like that they can enter the country also (which our current system doesn't provide) I would use a sensativity of 80%. I am wondering if any other Banks are using this tool? I don't see any disclaimers on the site and I like the idea that it is coming from the source. Just wondering if there are any reasons that I should be cautious in using this?

Thanks for any input.

THSCPA - we use the OFAC Search Tool to clear any potential matches identified by various vendors used by our departments. We also use it directly for some of our more manual processes. PM me if I can answer any questions.