Skip to content
BOL Conferences
Thread Options
#1889062 - 01/22/14 05:55 PM OFAC and cashing checks to non-customers
Calmeida12 Offline
100 Club
Joined: Sep 2012
Posts: 249
Do you perform OFAC on non-customers that go into your bank to cash checks (Payroll) from your business customer?

Return to Top
BSA/AML/CIP/OFAC Forum
#1889076 - 01/22/14 06:22 PM Re: OFAC and cashing checks to non-customers Calmeida12
NotDoneYet Offline
Gold Star
NotDoneYet
Joined: Jul 2010
Posts: 482
PA
Yes, because it is our bank's policy.
Last edited by NotDoneYet; 01/22/14 06:23 PM.
Return to Top
#1889084 - 01/22/14 06:29 PM Re: OFAC and cashing checks to non-customers NotDoneYet
Doug Hendrickson Offline
Power Poster
Doug Hendrickson
Joined: Oct 2009
Posts: 3,927
I'd be interested if your teller software product did this automatically for you and what has the 'hit' ratio been, especially false positives? Also do you have a dollar limit or is it any amount?
_________________________
I hear and I forget. I see and I remember. I do and I understand.--Confucius

Return to Top

Moderator:  Andy_Z