There is no way to answer this question. The actions taken would be totally a risk based decision.
CIP for Sole Proprietor- OFAC or Full Search?
We use a vendor's product for CIP purposes at the bank. When running a sole proprietor account, is there a reason we should be doing the full search or is OFAC alone sufficient? The same would go for unregistered organizations.
First published on 08/18/2019