I contend that we should be running recipients of cashier checks against OFAC. Same thing for bonds sold to non customers, bonds redeemed for non customers and even checks drawn on us that a non customer comes in to cash.

My boss feels that it’s overkill to be checking a cashiers check that a customer takes and makes payable to a non customer.

Thoughts on this?

There have been soooo many threads with polls about what to check, what not to check,etc. If you're not checking bank check payees, that is a risk that should be addressed in your BSA risk assessment. We check all payees on Bank checks and also also non-cutomers cashing checks, buying travelers checks, etc. Overkill or not, your BSA/OFAC risk assessment should definitely address this, if the Bank considers their risk high or low and the mitigating factors to support either decision.

Post deleted by Moviefan

What about PEP checks for the same people?