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Don’t close that account!

Question: 
If the OFAC list now contains a name that matches our customer’s name, should we immediately close the account?
Answer: 

Definitely not. For one thing, it might be a false positive. For another thing, if it’s really your customer that is on the OFAC list, you have to freeze the account and report it to OFAC, not close it.
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Learn more about Mary Beth Guard’s webinar
Telling Your Customer to Take a Hike!

First published on 07/09/2017

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