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Do OFAC Rules apply to FedGlobal ACH Payments transactions?

April 26, 2017ACH fedglobal OFAC PAYMENTS rules transactions

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Do OFAC Rules apply to FedGlobal ACH Payments transactions?

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OFAC rules apply to all payments. DFIs and their customers should consult with their internal compliance officer on this issue. Further information can also be found on the OFAC Web site (Off-site Link). In response to industry concerns about incoming payments from Europe, the Federal Reserve temporarily suspended the introduction of inbound payments until a broader resolution to this issue can be identified.