Banking compliance workflow for Tallyfy

Screen customers and transactions against sanctions lists

Sanctions violations carry criminal penalties for willful non-compliance. This workflow guides staff through OFAC screening, potential match investigation, and proper documentation so true hits get blocked and false positives get resolved correctly.

3 steps

3 fields

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Banking KYC

Run this workflow in Tallyfy

Import this template into Tallyfy and assign screening tasks to compliance staff with name, screening type, and country captured at kickoff

Configure form fields to capture screening results, match disposition, investigation notes, and OFAC report numbers when filed

Track every screening through Tallyfy with 1-2 hour deadlines to ensure timely resolution and 5-year documentation retention for audits

Import this template into Tallyfy

Process steps

Run OFAC screening

1 hours from previous step

task

Submit the name to your OFAC screening system. You'll need to check all relevant lists - SDN, Blocked Persons, and Sectoral Sanctions. For wire transfers, also screen the beneficiary bank and country. Log the screening timestamp and the system you used; that record matters if your compliance is ever audited.

Form fields in this step

Screening Result *

Screening Reference *

Investigate potential matches

2 hours from previous step

task

When you get a potential match, dig in to determine whether it's a true hit or a false positive. Compare every available identifier: full name, date of birth, address, and nationality. Write up your analysis and your conclusion. If it's a true hit, you must escalate immediately - don't wait.

Form fields in this step

Match Disposition *

Investigation Notes

Document and proceed or block

2 hours from previous step

task

If the result is clear, record the screening and proceed with the transaction or account opening. For true matches, you're required to block the transaction or account and file the necessary reports with OFAC - that filing deadline isn't flexible. Keep all screening documentation for at least 5 years; regulators can and do request records long after the fact.

Form fields in this step

Final Status *

OFAC Report Number (if filed)