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Account frozen per OFAC request
November 20, 2024
Q. I have never see an "account frozen/returned per OFAC request" before. I did some research online about OFAC and ran the search to see if the vendor was on the list and they are not. It is not a new vendor. However, they were in the process of switching banks when this happened. Their account is no longer frozen. We are preparing to write up some in house procedures of how to handle this in the future if/when this happens again. If they are on the list we know we are to contact the OFAC…
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