01/16/2006
Is my institution required to perform OFAC verification on cashier's checks?
01/02/2006
We currently check our wires against the OFAC SDN list. Is there any specific procedure for wires that come in Pay Upon Proper ID (PUPID)? Should we handle these wires in the same manner as regular wires?
01/02/2006
With respect to OFAC Sanctions on Iran, could you please explain how a bank would handle a customer (US Citizen) traveling to Iran for a few weeks. If the customer does not use their account to make purchases IN Iran, however they have automatic credits and debits set up on their account here in the US, is the bank violating OFAC Sanctions by accepting those automatic credits and debits to and from their account while they are traveling abroad?
01/01/2006
The following information on links to information on High Risk Jurisdictions is adapted from the FFIEC 2006 Bank Secrecy Act/Anti-Money Laundering Examination Manual.
12/05/2005
Do we have to run an OFAC on a third party check? Example: A customer's parent makes a payment for the customer.
12/01/2005
Question: We recently started selling money orders for Western Union at all of our branches. We only take cash.
11/21/2005
Is the 314a request the same thing as the OFAC list? I was told they were 2 separate things and I was also told that the 314a requests are the new names that will be included on the OFAC list. Could you please tell me which one is correct?
11/07/2005
ABA Money Laundering Enforcement Conference -- Days 2 & 3
by Ken Golliher
Principal, Pegasus Educational Services, LLC
08/15/2005
Our bank operates an insurance agency. Do we have to check these clients against the OFAC list? We merely write policies and forward premium checks on to the larger insurance providers.
08/15/2005
Do we need to run an OFAC check on the attorney in fact when they bring us a POA to transact on a customer's account?