OFAC has released a new SDN search tool on its website located here to help your credit union determine who is naughty or nice this holiday season. As always, OFAC provides the following:
Use of this system implies understanding that searches performed by SDN Search are conducted at the user’s own risk, and that the search results provided by SDN Search do not represent an official confirmation by the Office of Foreign Assets Control or the Department of the Treasury of the existence or absence of a match between any information entered by the user and any information contained on the SDN List. The use of SDN Search does not limit or excuse any liability for any act undertaken as a result of, or in reliance on, such use.
Just a reminder: Remember to make sure you are checking you’re OFAC list. New accounts should be checked against the OFAC list prior to opening the account, or at minimum, prior to any transactions being conducted through the account.