Daily ACH OFAC Match and Suspect Report (FPSDR213) |
  
|
Navigation: Deposit Reports > Deposit Reports - Numerical Order >
Daily ACH OFAC Match and Suspect Report (FPSDR213) |
|
|
WARNING: We are phasing out of using this OFAC report. Instead, use the OFAC Report (FPSDR338). This new report will help your institution be in compliance with government regulations. Certain institution options must be set up to use this report. See OFAC Report (FPSDR338) for more information. |
|---|
Availability
This report should be processed daily. This report can be run multiple times with different proximity and confidence levels.
Purpose
This report will compare the individual name of an ACH transaction against the OFAC list (Office of Foreign Assets Control).
The individual name on an ACH record is only 22 characters long; therefore, the entire name is used in the OFAC search. A Soundex match is used on each word (name) in the name field. The number of hits a name may get in OFAC is dependent upon the Proximity and Confidence Levels that are set for you by GOLDPoint Systems in the Report Setup screen. The higher these levels are, the narrower the search will be. The default levels are Proximity of 80 percent and Confidence of 70 percent.
Only ACH transactions dated the same as the run date of the report are checked. The only available sort for this report is by account number.
See the following links for more information about this process:
The following example reports show the different results returned when the Proximity and Confidence Levels are changed. In the second example, OFAC testing was also skipped for the last name on the first report (Marg Seddon).
Following is an example of the Daily ACH OFAC Match and Suspect Report with Proximity 80% and Confidence 70%:
Following is an example of the Daily ACH OFAC Match and Suspect Report with Proximity 70% and Confidence 60%:
Report Column Information
Column |
Description |
|---|---|
Account Number |
This column shows the account number from the ACH record. |
Company Name |
This column displays the company name from the ACH record. |
Last Amount |
This column displays the amount of the ACH item that is being checked. |
Individual Name |
This is the name on the ACH item that is tested in the OFAC file. |
OFAC Name |
This is the list of names and aliases that matched the Soundex of theIndividual Name. |
Skip OFAC Testing on Individual ACH Records
Sometimes certain names appear on the report when you know that they should not. This generally happens because the Soundex matches a name in the OFAC file. You can prevent a name from appearing on the report by selecting the Skip OFAC Testing? field (pictured below) on the Deposits > Account Information > Incoming ACH tab in CIM GOLD.
|
Note: If multiple ACH transactions are presented with the same individual name, you must select the Skip OFAC Testing? field on each of the individual ACH items. |
|---|
|
GOLDPoint Systems Only: Misc Opts 1 and 2 are used to override the default Proximity and Confidence levels (P = 80, C = 70). Misc Parm is where the Proximity and Confidence levels are set. It must always be in the format P = XX, C = XX, where XX = the percent level to set. The lower these levels are, the more hits you will get on the Soundex of the individual name. The percent should never be below 50. Recommended levels are between 60 percent and 80 percent. Set Misc Opts 1 to Y if the proximity level is changed, and set Misc Opts 2 to Y if the confidence level is changed.. If the default is used, these two fields should be set to N.
Submit a work order to get this report set up for your institution. You will need to specify the Proximity and Confidence Levels. If you want the default levels, please specify. |
|---|
Skip OFAC Testing Field on CIM GOLD Deposits > Account Information Screen
