The FDIC’s Risk Management Manual of Examination Policies lists specific OFAC-related questions being asked by regulators during examinations, including the following:
- Does the institution have policies and procedures in place for complying with OFAC laws and regulations?
- Does the institution maintain a current listing of prohibited countries, entities and individuals?
- Is the OFAC information disseminated to foreign country offices?
- Are new accounts compared to the OFAC listings prior to opening?
- Are established accounts regularly compared to current OFAC listings?
Are you prepared to answer these questions when the examiners visit? We now know that no institution is too small—no city too remote to be affected by terrorist activities.
At Accuity we recognize the importance of accurate and up-to-date information when processing transactions. Contact us today to see how our Compliance Solutions can help build the framework for your due diligence and regulatory compliance operations.
May 15, 2012 OFAC Update
May 8, 2012 OFAC Update
April 23, 2012 OFAC Update
April 19, 2012 OFAC Update
April 12, 2012 OFAC Update
April 10, 2012 OFAC Update
March 30, 2012 OFAC Update
March 28, 2012 OFAC Update
March 27, 2012 OFAC Update
March 7, 2012 OFAC Update
March 6, 2012 OFAC Update
March 5, 2012 OFAC Update
March 2, 2012 OFAC Update
February 23, 2012 OFAC Update
February 16, 2012 OFAC Update
February 14, 2012 OFAC Update
February 1, 2012 OFAC Update
January 26, 2012 OFAC Update
January 23, 2012 OFAC Update
January 19, 2012 OFAC Update
January 10, 2012 OFAC Update
January 5, 2012 OFAC Update
Letter to the Board of Governors
FBI Press Release
Looking for OFAC Updates from 2009 or earlier? Contact us for older OFAC Update Archives.
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