OFAC Sanctions Screening

Workflow for screening transactions and customers against OFAC sanctions lists. Covers hit resolution and escalation. Takes 5-15 minutes per screening. Required for all new relationships and flagged transactions.

3 steps

Banking

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Process steps

Run OFAC screening

1 hours from previous step

task

Submit the name through your OFAC screening system. Screen against all relevant lists: SDN, Blocked Persons, Sectoral Sanctions. For wire transfers, also screen beneficiary bank and country. Document the screening timestamp and system used.

Form fields in this step

Screening Result *

Screening Reference *

Investigate potential matches

2 hours from previous step

task

For potential matches, investigate to determine if it's a true hit or false positive. Compare all available identifiers: full name, date of birth, address, nationality. Document your analysis and conclusion. True hits require immediate escalation.

Form fields in this step

Match Disposition *

Investigation Notes

Document and proceed or block

2 hours from previous step

task

For clear results, document the screening and proceed with the transaction or account opening. For true matches, block the transaction or account and file the required reports with OFAC. Retain all screening documentation for 5 years minimum.

Form fields in this step

Final Status *

OFAC Report Number (if filed)