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OFAC Requirements for Lenders

Answered by: 

Question: 
We are looking for recommendations/best practices regarding loan proceeds/payees and OFAC. Is it necessary to check OFAC for those entities receiving proceeds from a loan?
Answer: 

It is if you don't want to risk violating OFAC by giving loan proceeds to someone on the OFAC SDN listing.

First published on BankersOnline.com 1/17/05

First published on 01/17/2005

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Filed under lending as: 

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