Ofac

[Fine Vol]

With all of the anti terrorism measures now days I thought I would reveal another one. Any time a non member does a transaction where I work we have to OFAC them. I email the non members name and they compare it to a terrorist watch list to make sure they are not a terrorist. Any business , the same thing. I have had to OFAC my own family. thoughts?

 

[GAVol]

Sign of the times . . . One of the greatest roadblocks we can throw up for people with bad intentions is making it difficult for them to move money.

 

[GVF]

The up side...

You can tell them if they don't OFAC themselves, you will.

 

[allvol123]

Is this similar to the "OFace"?

 

[Fine Vol]

Is this similar to the "OFace"?

I dont knOw

 

[CSpindizzy]

As a data broker we are required by law to run our files against the watch list. The problem is that the watch list is garbage and there are quite a few people who share the names of some on this list. Reporting all of this is truly a nightmare.

 

[Fine Vol]

They have never told me anything if it comes back positive. I see the jokes comin!

 

[CSpindizzy]

Better notify your partners.

 

[GAVol]

I'd say that's good advice. :thumbsup:

 

[CSpindizzy]

Next time just double up....

 

[vader]

WTF is OFAC?

 

[Fine Vol]

Operation Foreign assets control

 

[vader]

Tyvm

 

[CSpindizzy]

The odd thing is that my wife's uncle shares a common name with someone tied to the IRA and is screened thoroughly during trips to the airport. So Middle East profiling is not all the list includes.