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#393432 - 07/29/05 12:34 PM 314a
Perkins Offline
Junior Member
Joined: Dec 2004
Posts: 46
Louisville, KY
As the originating FI of a wire transfer, is there an obligation on our part to check the recipient of our customer's wire transfer against the 314a request? BOL's "What to Search" sheet suggests only that we look for a match between named subject and originator on wires originated through us, and, named subject benificiary on wires where we are the recieving FI. Are we required to check the benificiary on a wire that is originated by our customer who automatically gets checked on every 314a?

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#393433 - 07/30/05 12:35 PM Re: 314a
MagicCity Offline

Power Poster
MagicCity
Joined: Apr 2003
Posts: 3,003
Fort Lauderdale, Florida
You are not required to - but it is expected and it is what most banks are doing.
I think you could be criticized if you do not.

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