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#1968583 - 10/09/14 08:10 PM OFAC False positives
BSAAnonymous Offline
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Joined: Feb 2012
Posts: 165
Out of curiousity, who reports the # of false positives regarding OFAC to your Board?

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#1968608 - 10/09/14 08:38 PM Re: OFAC False positives BSAAnonymous
MagicCity Offline

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MagicCity
Joined: Apr 2003
Posts: 3,003
Fort Lauderdale, Florida
I doubt that anyone reports that.

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#1968610 - 10/09/14 08:40 PM Re: OFAC False positives BSAAnonymous
HappyGilmore Offline
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Joined: Jun 2004
Posts: 19,417
Pulling people out of the ditc...
nobody reports that here...there is no value to that information
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#1968688 - 10/10/14 01:16 PM Re: OFAC False positives BSAAnonymous
BSAAnonymous Offline
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Posts: 165
Agreed that there is no value. An auditor was telling me that she's seen other banks reporting that to the Board. Total waste of time... Thankyou.

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#1968692 - 10/10/14 01:19 PM Re: OFAC False positives BSAAnonymous
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,277
I can only see the information being useful in a discussion of time taken by tasks and ways to improve process.
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#1968820 - 10/10/14 04:39 PM Re: OFAC False positives BSAAnonymous
NotDoneYet Offline
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NotDoneYet
Joined: Jul 2010
Posts: 482
PA
We include the number in a report to Audit Committee, but I don't know why my supervisor wants it included.

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#1968990 - 10/10/14 09:33 PM Re: OFAC False positives BSAAnonymous
Higgy Offline
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Higgy
Joined: Sep 2013
Posts: 8
Somewhere TN
I agree with Kathleen B, as it relates to pursuading the BOD for additional resources!

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