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#2216743 - 06/28/19 07:23 PM OFAC and Beneficial Owners
Susielou Offline
Gold Star
Joined: Aug 2005
Posts: 334
Midwest
We OFAC Beneficial Owners at account opening but they are not put in the core. How are banks continuing to OFAC Beneficial Owners if they are not put in the core?

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#2216746 - 06/28/19 07:38 PM Re: OFAC and Beneficial Owners Susielou
Bankwoman1 Offline
Platinum Poster
Joined: Dec 2015
Posts: 820
Midwest
We add the beneficial owners to our system under the organization level, which then allows for them to be scanned each night.

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#2216852 - 07/01/19 10:47 PM Re: OFAC and Beneficial Owners Susielou
Buddy the Elf Offline
Platinum Poster
Buddy the Elf
Joined: May 2002
Posts: 972
first lily pad on the right
We had our IT department create an electronic form that writes to a database each time the form is saved. We then pull a file of the BOs once a week for OFAC scanning.
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