Is there a dollar limit on which transactions are subject to OFAC regulations?Is there a dollar limit on which transactions are subject to OFAC regulations?
There is no minimum or maximum amount subject to the regulations. There is no minimum or maximum amount subject to the regulations. • Does my bank need to check the OFAC list when selling cashier’s checks and money orders? In the case of cashier’s checks, do I need to check both the purchaser and the payee? As a mortgage lender, do I need to check both the purchaser and the seller’s name against the SDN list?Does my bank need to check the OFAC list when selling cashier’s checks and money orders? In the case of cashier’s checks, do I need to check both the purchaser and the payee? As a mortgage lender, do I need to check both the purchaser and the seller’s name against the SDN list? Every transaction that a U.S. financial institution engages in is subject to OFAC regulations. If a bank knows or has reason to know that a target is party to a transaction, the bank’s processing of the transaction would be unlawful. Every transaction that a U.S. financial institution engages in is subject t
