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#345127 - 04/08/05 08:37 PM Government OFAC checking fun
Data Offline
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Data
Joined: Oct 2002
Posts: 226
Houston
I attended the AML conference in Austin Wednesday. It was a ballroom full of bankers and regulators. One humorous part of the day came when a banker asked the panel of regulators if the government checked OFAC when they issued SS checks and if the state checked OFAC when they issued Drivers License. The answers were
No
Don't know
Pretended he didn't hear the question.
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#345128 - 04/08/05 08:50 PM Re: Government OFAC checking fun
HappyGilmore Offline
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Joined: Jun 2004
Posts: 19,844
Pulling people out of the ditc...
please remember that the government makes the rules, they don't have to follow them. How is the old saying "Hi, I'm from the government and aI'm here to help!"
Last edited by happygilmore; 04/08/05 08:53 PM.
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#345129 - 04/10/05 04:30 PM Re: Government OFAC checking fun
MagicCity Offline

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MagicCity
Joined: Apr 2003
Posts: 3,003
Fort Lauderdale, Florida
That's like the IRS agent last week telling us about all the stuff we MUST do to ensure we know who we are dealing with because driver's licenses are unreliable.

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#345130 - 04/10/05 04:31 PM Re: Government OFAC checking fun
MagicCity Offline

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MagicCity
Joined: Apr 2003
Posts: 3,003
Fort Lauderdale, Florida
So when does the Government - who is telling us all these things that we have to do, - with threats of jail and fines - start doing their job?

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#345131 - 04/10/05 06:49 PM Re: Government OFAC checking fun
Princess Romeo Offline

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Joined: Jun 2001
Posts: 8,272
Where the heart is
Quote:

The answers were
No
Don't know
Pretended he didn't hear the question.



That sounded like the OCC Web Seminar on BSA when asked about OFAC and ACH.

The silence was deafening.
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