Running an OFAC Test
The Office of Foreign Assets Control (OFAC) is a department within the U.S. Treasury that regulates and enforces economic and trade sanctions based on US foreign policy. The OFAC compliance test is a mandatory test that checks a customer’s identifying information against the specially designated nationals (SDN) list to make sure that it is legal to give the customer a loan.
This article gives step-by-step instructions on how to run the test, but you can also see OFAC Compliance for more general information about what the test is for and what to do if you get a match.
How to Run a Compliance Test
The OFAC compliance test can be found inside Customer Tools in any customer file.
Simply click Pull OFAC Report Now.
This will bring up a window with the customer’s information.