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#1636811 - 12/08/11 02:05 PM OFAC List Search Tool
BC78a Offline
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OFAC has announced the availability of SDN Search, an online application that allows the user to search the SDN List.


http://sdnsearch.ofac.treas.gov/

It is about time
Last edited by BC78a; 12/08/11 02:06 PM.
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#1636817 - 12/08/11 02:20 PM Re: OFAC List Search Tool BC78a
edAudit Offline
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Not a very good one

osama bin ladden

one extra letter

Your search has not returned any results
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#1636839 - 12/08/11 02:54 PM Re: OFAC List Search Tool edAudit
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The disclaimer (some emphasis added by me) pretty much says it all:

"This SDN Search application (SDN Search) is designed to facilitate the navigation of the Specially Designated Nationals and Blocked Persons list (SDN List).

SDN Search uses literal character matching logic to identify exact matches between word or character strings exactly as entered into SDN Search, and any name or other information exactly as it appears on the SDN list.

SDN Search will not detect misspellings or other incorrectly entered text, and will not return near matches to, or other variations of, the entered text.

Use of this system implies understanding that searches performed by SDN Search are conducted at the users own risk, and that the search results provided by SDN Search do not represent an official confirmation by the Office of Foreign Assets Control or the Department of the Treasury of the existence or absence of a match between any information entered by the user and any information contained on the SDN List.

The use of SDN Search does not limit or excuse any liability for any act undertaken as a result of, or in reliance on, such use.

Do not taunt the SDN Search.

The SDN Search may suddenly accelerate to dangerous speeds."

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#1636852 - 12/08/11 03:09 PM Re: OFAC List Search Tool Hrothgar Geiger
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So what good is it
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#1636853 - 12/08/11 03:13 PM Re: OFAC List Search Tool BC78a
Hrothgar Geiger Offline
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The one thing it does very well is to clearly identify the program(s) under which the entity is listed.

The most frequently asked operational question in OFAC is "I have a hit, what do I do?" And the answer is always "The program under which the entity is listed will tell you what you need to do."

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#1636854 - 12/08/11 03:16 PM Re: OFAC List Search Tool Hrothgar Geiger
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Most vendor systems will identify the program also.
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#1636856 - 12/08/11 03:17 PM Re: OFAC List Search Tool Hrothgar Geiger
edAudit Offline
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Originally Posted By: Hrothgar Geiger
The one thing it does very well is to clearly identify the program(s) under which the entity is listed.

The most frequently asked operational question in OFAC is "I have a hit, what do I do?" And the answer is always "The program under which the entity is listed will tell you what you need to do."


Only if you get a hit.
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#1636857 - 12/08/11 03:33 PM Re: OFAC List Search Tool edAudit
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Interesting. Take the same osama bin ladden and run it through

http://apps.finra.org/RulesRegulation/OFAC/1/Default.aspx

Very different results.
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#1637090 - 12/08/11 07:16 PM Re: OFAC List Search Tool Retread
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Sooo..., the online search engine offered by OFAC would not pass the "sticky" test that some examiners are using to evaluate whether or not a bank has effective OFAC filters?

Why am I not surprised.
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#1637119 - 12/08/11 07:35 PM Re: OFAC List Search Tool Princess Romeo
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#1637200 - 12/08/11 09:40 PM Re: OFAC List Search Tool Hrothgar Geiger
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Ah - the Happy Fun Ball of the OFAC world.
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#1638655 - 12/14/11 01:15 AM Re: OFAC List Search Tool Princess Romeo
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#1638758 - 12/14/11 02:39 PM Re: OFAC List Search Tool Retread
Hrothgar Geiger Offline
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True, although the complaint really focuses on OFAC's underlying data, not the search tool itself. Still, a peek into the world of people directly impacted by the SDN list is a good thing. Sharing a name with a listed entity has to be a nightmare.

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#1639039 - 12/14/11 07:47 PM Re: OFAC List Search Tool Retread
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gone fishin'
I direct people to Finra's search tool when our software is down.
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#1639078 - 12/14/11 08:43 PM Re: OFAC List Search Tool WonderWoman
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Finra's search tool isn't a whole lot better than OFAC's SDN Search.

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#1639082 - 12/14/11 08:49 PM Re: OFAC List Search Tool Hrothgar Geiger
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Originally Posted By: Hrothgar Geiger
True, although the complaint really focuses on OFAC's underlying data, not the search tool itself. Still, a peek into the world of people directly impacted by the SDN list is a good thing. Sharing a name with a listed entity has to be a nightmare.


I have a buddy in mine who ironically enough, is a BSA person at another FI. His name is a perfect match. Every time we fly, he gets pulled out of line and I get to wait for him for 1-2 hours. We expect it now. We even bet on how long it will take to get cleared smile
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