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#2114291 - 01/13/17 08:32 PM Do you run OFAC for sellers in a purchase?
tgpitts11 Offline
Member
Joined: May 2012
Posts: 75
We've always run OFAC for the borrowers and the sellers in a purchase transaction. I'm hearing that it isn't necessary to run OFAC for sellers.

What seems to be standard practice in the industry?

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#2114295 - 01/13/17 08:42 PM Re: Do you run OFAC for sellers in a purchase? tgpitts11
Jennifer Offline
100 Club
Jennifer
Joined: Dec 2014
Posts: 190
We do run an OFAC inquiry on the sellers following a BSA conference suggestion.

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