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#309714 - 01/28/05 03:45 PM OFAC
KKatz Offline
New Poster
Joined: Dec 2004
Posts: 2
This list just got passed on to me. Any suggestions from anyone what the best way to "scrub" the list is?

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#309715 - 02/01/05 07:20 PM Re: OFAC
blvsinangels Offline
Gold Star
Joined: Aug 2003
Posts: 372
Sorry, your going to have to explain this one a little more. Scrub your internal list???

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#309716 - 02/02/05 04:36 PM Re: OFAC
Chicgolf Offline
100 Club
Joined: Jun 2003
Posts: 137
Westside
I am assuming when you stated "Scrub the list" you are referring to running the most current OFAC list against your customer database. My understanding, users of Jack Henry have that feature automatically built in. Other banks are using other software such as Choicepoint/Bridger to "scrub" the customer database against OFAC or other Automated AML software. Check with your IT Department and have a technician convert the OFAC list into a consolidated index text file that can be filtered/scrub against your customer database.

Hope that helps.
_________________________
These are just my own opinions...my body is here but my mind has already teed off...FORE!

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#309717 - 02/03/05 03:12 PM Re: OFAC
Anonymous
Unregistered

We are a JHA bank and use the built-in feature....it is awesome. Each time OFAC changes we let IT know and they go out and download the new list on our system. Each time a new account is opened it is ran against OFAC. Wonderful tool.

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#309718 - 07/05/05 05:24 PM Re: OFAC
CHOIRBOY Offline
Junior Member
Joined: Feb 2005
Posts: 39
Stumptown, Oregon, U.S.A.
We recently purchased the ChoicePoint / Bridger system for scrubbing our database. We have product overview & training next week. I know that by adjusting the filter "score" we can expand or contract (fine tune) the amount of hits we get. The higher the score, the narrower the scope and the fewer potentially false matches. This part is important, since the re-check will be a manual process for us. Has anyone else had any experience with the effectiveness of this Bridger program? It was another department's decision to purchase, but I have a sense that the manual re-check may fall to Compliance.

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