OFAC - Notifying Party to Wire

Posted By: YosemiteSamIAm

OFAC - Notifying Party to Wire - 10/28/08 05:54 PM

Can I notify the party to a wire (not the OFAC party, the originator, but the beneficiary) that we have frozen the wire funds that were to go into their account? The FAQs on the OFAC website seem to say it is O.K. to do so.
Posted By: Elwood P. Dowd

Re: OFAC - Notifying Party to Wire - 10/28/08 06:04 PM

Yes, it's not a secret. Someone is going to have to apply for a license to get the money unblocked.