Transactions subject to OFAC does not detail insurance, yet it is a regulated industry. If anyone would like to help with my confusion, would our bank insurance agency be required to check OFAC on potential insurance agency clients? Thanks
"GEICO provided an automobile insurance policy without an OFAC license to an individual named as a Specially Designated Narcotics Trafficker (“SDNTK”) pursuant to the Foreign Narcotics Kingpin Designation Act."
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