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