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#315658 - 02/11/05 08:45 PM OFAC and Wires
Anonymous
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What is the best way to check benficiaries on outgoing wires and originators on incoming wires? We use FedWire and I had been told they would do the chekcing for us! WRONG! I need some suggestions on how best to do this please.

First off, I know we will need to somehow get more information on these parties. Is there a good software solution or website vendor or something (short of commintting the OFAC list to memory) that can automate this process?!

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BSA/AML/CIP/OFAC Forum
#315659 - 02/11/05 10:27 PM Re: OFAC and Wires
HappyGilmore Offline
10K Club
Joined: Jun 2004
Posts: 19,844
Pulling people out of the ditc...
Fedwire does not check OFAC, the FRB is exempt from checking. The US treasury website www.treas.gov/ofac has the listing. You can also purchase software from several reputable companies. A google search will list them. You could also talk to your mainframe vendor, they may have a solution.
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#315660 - 02/12/05 12:39 AM Re: OFAC and Wires
Anonymous
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