01/19/2025
If wire transfers are made to what has been described as a legitimate business to the customer, is it valid that the customer is not able to have their money insured and get it back if the business is not legitimate and the customer is defrauded?
08/18/2024
Regarding a cancellation request of a consumer foreign remittance transfer - are there any document retention requirements related to the canceled wire transfer request? Is the FI required to retain a copy of the wire transfer request form or any other documentation related to the transaction since it never occurred if canceled within the 30-minute window?
Our bank has a log to record all canceled international wire transfer requests, but that is the only documentation.
12/17/2023
How do we recall a bank-to-bank transfer that was unauthorized? We are the ODFI.
10/16/2022
When an incoming wire comes in through a bank or the Fedwire, is our receiving bank required to do an OFAC check? Don't bankers and Fedwire procedures include OFAC checks on them before the wire is sent?
06/26/2022
Can an authorized signer on a checking account receive a wire transfer payable to them into that account?
11/07/2021
Shall we return a wire sent from Russia when the originator is not on SDN but the originator's bank, SBERBANK is on the e Sectoral Sanctions Identifications List?
10/31/2021
We have a customer who wants to wire money to Pakistan. I don't understand the sanctions list. If there is a list of entities shown, does that mean that we shouldn't send the wire? Is the sanctions list specifically for individuals or countries?
10/31/2021
How do I handle Part III of a CTR if part of the withdrawal was at a branch and the other part was through an ATM at another location? The total cash amount exceeded $10,000.00 in one day.
10/31/2021
We have a customer who wants to wire money to Pakistan. I don't understand the sanctions list. If there is a list of entities shown, does that mean that we shouldn't send the wire? Is the sanctions list specifically for individuals or countries?
09/12/2021
Regarding OFAC compliance, should my 314a scans of wire activity include both domestic and international wires or just foreign wires sent or received?