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.
December 21, 2010 OFAC Update
December 14, 2010 OFAC Update
December 9, 2010 OFAC Update
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November 30, 2010 OFAC Update
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October 27, 2010 OFAC Update
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September 29, 2010 OFAC Update
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September 1, 2010 OFAC Update
August 30, 2010 OFAC Update
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August 16, 2010 OFAC Update
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June 9, 2010 OFAC Update
June 3, 2010 OFAC Update
June 1, 2010 OFAC Update
May 21, 2010 OFAC Update
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April 28, 2010 OFAC Update
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April 16, 2010 OFAC Update
April 15, 2010 OFAC Update
April 13, 2010 OFAC Update
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April 1, 2010 OFAC Update
March 25, 2010 OFAC Update
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March 18, 2010 OFAC Update
March 2, 2010 OFAC Update
February 25, 2010 OFAC Update
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January 19, 2010 OFAC Update
January 14, 2010 OFAC Update
January 8, 2010 OFAC Update