Posted By: heatherdem
Incoming IAT Debits and OFAC - 05/27/21 12:39 PM
How are FI's handling incoming IAT debits when you are unable to complete OFAC screening by EOD? The OFAC Letter issuing revised guidance, dated 3/18/2009, says that the suspect transaction can be removed from the batch for further investigation, but what do you actually do with it? 99.9% of the time we are simply waiting for clearing data from our clients, but sometimes they are not timely.