I'm a registered user, but I need to stay anonymous for this one . . .

We're working on our policies for official checks and I'm looking for some input:

Do you use more than one type of official check (cashier's check, bank money order, personal money order, etc.)? If so, what dollar limits do you use for each.

Do you limit sales over a specified amount to customers only? If so, what level? If not, at what level do you run the purchaser through OFAC?

At what dollar level do you run the payee through OFAC?

We want to make some changes and knowing what others are doing could help us sell it to management.

Thanks in advance for your help.

We sell Cashier's Checks only and limit the sales to bank customers. We are to run all payees through OFAC.

We sell cashiers checks and money orders and only do so to customers. Payee names are checked against OFAC.

Same here

Anyone OFAC checking Accounts Payable payees?

No. And I think that is the point we start resisting. OFAC is the Office of FOREIGN Asset Control. Doubt if our bank vendors are going to be on the list.

Actually our internal auditors recommended that we check A/P payees against OFAC. We agree that it seems unnecessary and will most likely not do so in all cases, but we do give to charity from time to time and charitable organizations have been added to OFAC in the last few years, so we might check these payees against OFAC.