FA presents cash to the bank and seeks to wire it to his spouse, RA, in Cub A. The OFAC list identifies RA as a specially designated national. Under OFAC Regulations, what should the bank do?

Last Updated on January 25, 2022 by Admin 2

FA presents cash to the bank and seeks to wire it to his spouse, RA, in Cub A. The OFAC list identifies RA as a specially designated national. Under OFAC Regulations, what should the bank do?

  • Block the transfer
  • Conduct the transfer as requested and take no further action
  • Conduct the transfer as requested and notify OFAC immediately
  • Conduct the transfer only if the bank determines that Cuba is not a blocked country
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