Thread Options
#994683 - 07/14/08 06:20 PM OFAC
bpont Offline
New Poster
Joined: Sep 2005
Posts: 7
We do not currently do an OFAC check for any ACH transactions.
What are the regulatory obligations for doing ACH OFAC checks.

Return to Top
#995017 - 07/14/08 09:50 PM Re: OFAC bpont
'Lil Freak! Offline
10K Club
'Lil Freak!
Joined: Sep 2005
Posts: 10,596
The psych ward
OFAC doesn't require you to check anything; you just can't engage in a transaction with a blocked party. You’ll want to review pg. 143 of the BSA/AML Examination Manual for more information.
Last edited by 'Lil Freak!; 07/14/08 09:52 PM.
No, I didn't lose my mind. It got scared and ran away.

Return to Top

Moderator:  Andy_Z