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#2010021 - 04/24/15 01:12 PM OFAC for non customers
EDD GURU Offline
New Poster
EDD GURU
Joined: Feb 2015
Posts: 3
What is your threshold amount for running OFAC, when a non-customer comes to your institution to cash a check?

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BSA/AML/CIP/OFAC Forum
#2010023 - 04/24/15 01:19 PM Re: OFAC for non customers EDD GURU
Midwest BSA Offline
Member
Joined: Sep 2014
Posts: 57
Our policy is to run OFAC on all non-customers, regardless of the amount.

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#2010025 - 04/24/15 01:22 PM Re: OFAC for non customers EDD GURU
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Anywhere from $1000 to $5000 is common. It's a sop, not a solution.

One of a number of prior threads.
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#2010099 - 04/24/15 03:31 PM Re: OFAC for non customers EDD GURU
Buddy the Elf Offline
Platinum Poster
Buddy the Elf
Joined: May 2002
Posts: 975
first lily pad on the right
Our threshold is $1000.
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#2010409 - 04/27/15 01:06 PM Re: OFAC for non customers EDD GURU
ksteve Offline
New Poster
Joined: Apr 2014
Posts: 4
Minnesota
Our threshold is $1,000.

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