Next Day Bill Pay Payee OFAC Match and Suspect Report (FPSDR226) |
  
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Next Day Bill Pay Payee OFAC Match and Suspect Report (FPSDR226) |
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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. |
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Availability
This report should be processed daily in next-day processing. This report can be run multiple times with different proximity and confidence levels.
Purpose
This report will compare the account payee names on bill payment transactions against the OFAC (Office of Foreign Assets Control) list.
The account payee names on a bill payment record are only 30 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.
See the following links for more information about this process:
Only bill payment 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 FPSDR226 Example for an example of the Next Day Bill Payment OFAC Match and Suspect Report with Proximity 80% and Confidence 70%.
Report Column Information
Column |
Description |
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Account Number |
This column shows the account number from the bill payment record. |
Last Amount |
This column displays the amount of the bill payment item that is being checked. |
Account Payee Name |
This is the name on the bill payment 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. |
