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IRS OFAC rechecking process
August 29, 2024
Q. We manually verify our vendors using IRS OFAC screening before they are added to our system. However, we currently lack a process for rechecking after the initial verification. I understand the importance of regularly reviewing our vendors to ensure they haven't been added to the OFAC list. Unfortunately, my company has not authorized the use of a screening service to vet our vendors. While we utilize software which has the capability for such screenings, we have not implemented it yet. With…
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