Luckily we have never had a "hit" when checking OFAC, however, a question has arisen as to when to block or when to reject a transaction. At the present we have informed our employees to call OFAC when necessary, then if they feel certain they are dealing with a person/organization, etc. on the list, they should contact their supervisor. But then what? If I understand it correctly, the OFAC requirement was designed to assist the government in seizing as many assets as possible from terrorists and drug traffickers. Therefore using an example of a new account, I would think that we should open the account then freeze it. Other than the obvious when it comes to the sanctions list, when would we reject a transaction? Please give examples for opening new accounts, wire transfers, and payees on cashier's checks.

Examples of transactions to be rejected can be found on the OFAC site at Rejecting transactions

In addition, any matches on the new NS-PLC list are to be rejected.

What is the "new" NS-PLC list and where can it be found? Thanks for the reply.

It is an OFAC list (separate from the SDN list) composed of members of the Palestinian Leadership Council that are not on the SDN list.

NS-PLC