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Compliance with 31 CFR Chapter V with Respect to Fully-Automated Financial Transactions

sanctions-ofac · OFAC · Rule · Published 1995-06-30 · 60 FR 34142

Document

Document number
95-16121
Federal Register citation
60 FR 34142
Type
Rule
Action
Policy Statement.
Category
sanctions-ofac
Sub-agency
OFAC
Publication date
1995-06-30

Abstract

Due to the wide availability and use by financial institutions of name-recognition software to screen fully-automated financial transactions for potential violations of economic sanctions programs, the Office of Foreign Assets Control (``FAC'') will no longer treat fully-automated transactions differently from manually-processed transactions for civil penalty purposes.

Source

Authoritative
Federal Register document
Machine
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