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Cashier's Checks - Run OFAC on Payee

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When selling cashier's checks to customers which are typed with the remitter and payee, do we need to run the payee thru OFAC listing and also get the address for the payee?

Running anyone through OFAC is totally based on your bank's OFAC risk assessment. There is no regulatory guidance on this issue.

First published on 12/10/07

First published on 12/10/2007

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