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#1011748 - 08/04/08 06:34 PM Free OFAC name check
Spenser Offline
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Joined: Apr 2006
Posts: 52
Washington state
Currrently, we use Bridger Choicepoint software to do the monthly OFAC scrub of our database. However, the branches do not have access to the software, so when a non-customer cashes an on-us item, the frontline employee brings up the Bridger Choicepoint website to do a free name check. If the score is 95 or more, the BSA team is contacted, to do a check through the software, to verify that it is or isn't a 'true hit'. We are installing BSA/AML software, which will have an OFAC module, but that won't be ready until some time in 1st Quarter 2009. In the interim, the free Bridger OFAC name check is being discontinued as of Aug. 6. Does anyone has a suggestion for a reliable free OFAC name check site? I've looked at some, but I'd like to know if anyone has used one, and been comfortable with the results.

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#1011765 - 08/04/08 06:42 PM Re: Free OFAC name check Spenser
P*Q Offline

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P*Q
Joined: May 2001
Posts: 8,458
Somewhere
Why not use the actual SDN list on the Treasury website. Use the find feature and enter the name for any potential hits.

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#1011768 - 08/04/08 06:42 PM Re: Free OFAC name check Spenser
Janet Munns Offline
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Janet Munns
Joined: Apr 2007
Posts: 163
Florida
We have used the following:
http://ofac.brownandcompany.net/search.asp

It was approved by our auditing firm and our regulator - OCC.
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Janet Munns, CRCM
Florida

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#1011800 - 08/04/08 06:54 PM Re: Free OFAC name check Janet Munns
Retread Offline
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Retread
Joined: Oct 2003
Posts: 2,548
Southeast
This one also works very well, and you can check more than one name at a time.

http://apps.finra.org/RulesRegulation/OFAC/1/Default.aspx
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#1011881 - 08/04/08 07:36 PM Re: Free OFAC name check Retread
risk08 Offline
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Joined: Jun 2008
Posts: 16
JMunns or Retread, Can you scrub a whole file against either of the sites you have used?

We are looking at purchasing Attus Watchdog for our non customre ACH origination files.

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#1012167 - 08/05/08 05:45 AM Re: Free OFAC name check Janet Munns
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 78,971
Galveston, TX
Originally Posted By: JMunns
We have used the following:
http://ofac.brownandcompany.net/search.asp

It was approved by our auditing firm and our regulator - OCC.


The OCC may not have found any faults this time through, but I'm sure that the OCC did not "approve" the company. They rarely give endorsements
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#1012237 - 08/05/08 12:27 PM Re: Free OFAC name check rlcarey
Janet Munns Offline
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Janet Munns
Joined: Apr 2007
Posts: 163
Florida
risk08, The OFAC site we used was just for running the name through OFAC. Did not use to scrub. We now run all of our OFAC checks through our core system for tracking and scrubbing purposes.

rlcarey, Maybe 'approved' was the wrong word. Both our auditing firm and our regulator reviewed the website we were using and were satisfied with the results. Sorry if I mislead anyone.
_________________________
Janet Munns, CRCM
Florida

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#1013867 - 08/06/08 06:25 PM Re: Free OFAC name check Janet Munns
NewTooBSA Offline
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Joined: Nov 2005
Posts: 568
Texas
FYI for anyone interested:

I had not heard of either site so I tested them using the new bulletin issued by FinCEN of the updates as of 8/5/08. Finra.org had been updated and showed suspects searched as hits. The site for brownandcompany did not hit on any of the names searched from the updated list.

Since this was my first time to test either I thought I would share this info.

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#1014982 - 08/07/08 06:05 PM Re: Free OFAC name check NewTooBSA
Spenser Offline
Member
Joined: Apr 2006
Posts: 52
Washington state
We decided to go with this site. So far,it stands up to the name check test: http://www.creditbureauconnection.com/login.htm

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