Is it ok to do business with Guatemala? We are a mid-western bank who does not do much international trade, but we have a customer whos spouse lives in Guatemala and wants to open an account with us and get a loan. I do not see that country on the OFAC list. Other than collateral issues what else should we be concerned with? Thanks for your help!

I've was in International banking for over 20 years. There are no problems with Guatemala. We don't do alot with them so I can't say if they are slow to resond to investigations. I just asked our wire investigation group and they said they hadn't had any investigation with Guatemala.

If the spouse will be on the account you will have to "CIP" her and your bank's policy will need to cover how you will do this.