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#26992 - 08/06/02 08:02 PM Ofac search on new hires
SouthoftheBorder Offline
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Joined: Feb 2002
Posts: 335
The South
Is anyone doing an OFAC search on NEW JOB APPLICANTS or doing a search AFTER HIRE?

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Security - PUBLIC
#26993 - 08/07/02 10:42 AM Re: Ofac search on new hires
Dana Turner Offline

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Dana Turner
Joined: Dec 2000
Posts: 543
Pipe Creek TX - U.S.
JanDan:

Although it's not yet a common practice, many institutions are conducting background investigations on every insider and third-party service provider that may have access to consumer data -- as part of their Information Security Programs. This background check should include OFAC checking.
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#26994 - 08/09/02 02:40 PM Re: Ofac search on new hires
DawgFan Offline
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DawgFan
Joined: Jul 2002
Posts: 1,678
United States
We have built that into our procedures. It's yet another way of covering yourself!
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Opinions expressed are solely my own.

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#26995 - 08/12/02 03:02 AM Re: Ofac search on new hires
Anonymous
Unregistered

Our Personnel Dept., Manager insists on NOT doing an OFAC search on new hires......I think we should

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#26996 - 08/12/02 01:54 PM Re: Ofac search on new hires
JacF Offline

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Joined: Nov 2001
Posts: 6,719
PA
Do you open accounts for new hires? If so, 326 is not going to give you a choice on checking OFAC.
That being said, I am very curious as to what otherworldly logic your Personnel Manager is using.

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#26997 - 08/12/02 04:26 PM Re: Ofac search on new hires
Anonymous
Unregistered

It's hard to believe after the BONY debaucle that anyone would question an OFAC search on ALL employees! Since 1999, Know Your Customer has always meant Know Your Employee as well.


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#26998 - 08/13/02 07:30 AM Re: Ofac search on new hires
Princess Romeo Offline

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Princess Romeo
Joined: Jun 2001
Posts: 8,272
Where the heart is
In reply to:

Our Personnel Dept., Manager insists on NOT doing an OFAC search on new hires......I think we should



Has your manager explained why he/she does not want to conduct this check?

If it's an issue of money, you can do a one-name-at-a-time check for free on the Bridger Website at Bridger OFAC Compliance

Just be prepared if the names you are searching are Hispanic or Middle Eastern as there are a lot of "common" names to be found on the OFAC list.

Now, if you are located in California, your Manager may not have a choice as the Dept. of Financial Institutions now requires banks to have a Personnel Policy in place that provides for background checks to prevent terrorists from being hired at the bank.
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CRCM,CAMS
Regulations are a poor substitute for ethics.
Just sayin'

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#26999 - 08/13/02 03:24 PM Re: Ofac search on new hires
SouthoftheBorder Offline
Gold Star
Joined: Feb 2002
Posts: 335
The South
Our Personnel Dept., Mgr also insists on not performing an OFAC search because it's "not job related" and the OFAC list gives names of "SUSPECT" money launderers & terriorts...we do perform a criminal investigation on all new hires, regardless of position....

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