I'm conducting a wire transfer audit and a question has come up regarding incoming wires and OFAC verfication. Would appreciate experience concerning comparison of (1) "sender" bank, (2) origninator and (3) beneficiary to the OFAC database. Does your bank check all three to the database? If not all three, which ones? I work for a "community" size bank ($300+MM) that uses Homeland Tracker software. Thanks.

We check the originator and the location of the bank and originator. The beneficiary is our customer and has already been checked agianst OFAC. We do not accept non customer wires.

We don't accept non-customer transactions, but we do check all incoming and outgoing.

We are a small bank and we also use Homeland Tracker. Our database is checked regularly, so we don't need to check our customers in the wire department. However, we do check all originators and recipiants on both ends that are non-customers.

Thanks for sharing your "experience"...