OFAC Screening - Results of Individual Records

I am curious to see if OFAC screening systems at other financial institutions produce pass/fail results for each individual record screened or if the system only produces the total number of records screened at any given time (i.e. if pulling a sample of new or existing customers, one could not determine when an OFAC screening occurred or whether or not the record passed or failed).

We pass a status back to the sending system for each record (whether customers, accounts, or transactions).

Thanks, Ed. Can you then query that system by name, TIN, etc. for an individual result that occured in the past (for example, last month)?

We screen through eFunds (FIS) and I can go back later if need be and pull individual records.

If you're asking whether you can query the sending system, that would depend on how that system stores the results passed back to it.

If you're asking whether you can query the screening system, yes, although there are limits on which attributes can be searched on without developing a custom query.

I was asking if you could query the screening system as a method to self-test a sample of individual and/or entity clients to ensure the OFAC check was performed, the timing of the OFAC check, and the result. Then, review the items that originally came back as potential matches and ensure they were appropriately handled.

well, yes, that's part of our QA and UAT processes for new feeds, modifications to feeds, and enhancements to certain screening attributes.

It was at my former employer as well. They were a little more than 3x the size of the bank I work for now ($25 billion). I appreciate your insight. I'm hoping to glean some best practice discussion from this forum so, hopefully others will provide feedback.

Thank you to you as well, renniks.

Hi ...it's my understanding that FIS and other vendors don't keep the information around forever. It may be a good practice to run the report monthly and archive it at the financial institution for further analysis.