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What is involved in an OFAC check?
December 19, 2022
Q. What is included in an OFAC check?
I know we should be checking for the name/business of who we are paying. Do we also have to check specific countries or just the name/business we are paying? Do we need to check if the name/business we are paying has a bank account on a list we are not to pay into? If so, where do i find that?
A.
(Answered by by Debra Richardson, a third-party Vendor Master File Advisor: https://www.debrarrichardson.com.)
The US Department of Treasury prohibits US Entities…
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