Question & Answer

Question: What should we do when we get a "hit" on the OFAC list?

Answer: The best thing to do is to call OFAC. The list includes many common names. There is a fairly good chance that your customer is not really on OFAC's list. However, because of the small but very risky chance that the hit is real, you should call OFAC immediately to check it out. And don't send the money until OFAC tells you it's OK.

Copyright © 1998 Compliance Action. Originally appeared in Compliance Action, Vol. 3, No. 11, 8/98