Posted By: Purex
Potential OFAC IAT Match - 09/21/15 07:33 PM
Situation:
Potential 100% match off of name alone, alias that is, for an IAT transaction that attempted to post to our customer's account. I have notified OFAC, got a call within 20 minutes, gave all information available. OFAC states not enough information to confirm/deny it's a positive match, and that the Bank cannot use ACH Return Reason Code R16 based on OFAC did not clarify it was indeed a positive match. Now I am stuck note having any further information and no ACH reason code to return this transaction, I do not want to post it. I can tell it is one of these Ebay Paypal transactions based on the customer's spending history. Any advise?
Potential 100% match off of name alone, alias that is, for an IAT transaction that attempted to post to our customer's account. I have notified OFAC, got a call within 20 minutes, gave all information available. OFAC states not enough information to confirm/deny it's a positive match, and that the Bank cannot use ACH Return Reason Code R16 based on OFAC did not clarify it was indeed a positive match. Now I am stuck note having any further information and no ACH reason code to return this transaction, I do not want to post it. I can tell it is one of these Ebay Paypal transactions based on the customer's spending history. Any advise?