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Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

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OFAC issues violation finding to American Express

OFAC has issued a Finding of Violation to American Express Travel Related Services Company (“Amex”) for violations of the Weapons of Mass Destruction Proliferators Sanctions Regulations. OFAC found that Amex issued a prepaid card to, and processed 41 transactions totaling $35,246.82 on behalf of, Gerhard Wisser, a Specially Designated National (SDN). These violations were the result of human error and screening system defects. Amex remediated and disclosed the violations to OFAC.

OFAC said that this case highlights the importance of taking the steps necessary to ensure that automated sanctions compliance controls measures cannot be overridden without appropriate review There is no monetary penalty associated with a Finding of Violation.

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