Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums BSA/AML/CIP/OFAC Forum OFAC on Funds transfers
Thread Options
#1380722 - 04/23/10 06:26 PM OFAC on Funds transfers
sb1 Offline
100 Club
Joined: Jan 2006
Posts: 135
When completing a (domestic)wire request that goes from bank to bank, is OFAC required to be performed at the bank receiving the wire?

Return to Top
BSA/AML/CIP/OFAC Forum
#1380821 - 04/23/10 07:09 PM Re: OFAC on Funds transfers sb1
Hrothgar Geiger Offline
10K Club
Hrothgar Geiger
Joined: Jun 2005
Posts: 10,395
Jersey Shore
Based on my FI's processes, sanction scanning is done on all wires coming in the door and all wires going out the door.

Return to Top
#1380848 - 04/23/10 07:23 PM Re: OFAC on Funds transfers Hrothgar Geiger
ACBbank Offline
Power Poster
ACBbank
Joined: Jul 2006
Posts: 4,349
New York City
It depends on what your OFAC procedures require.
_________________________
"100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu

Return to Top
#1380876 - 04/23/10 07:35 PM Re: OFAC on Funds transfers ACBbank
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,389
Galveston, TX
This is a "dead horse". Do a search on OFAC and wires.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top

Moderator:  Andy_Z