OFAC – Office of Foreign Assets Control
SDN – Specially Designated Nationals
IIn these times of increased threats against the United States of America AMI provides our customers with the latest tools to comply with Federal Regulations. The AMI OFAC Option provides you with the ability to verify your members and potential members social security numbers to the most current SDN list. This is a Federally mandated requirement that all financial institutions are required to comply with terrorism. Our OFAC Name Search Report lists the results of the comparison for your records and for any audits.
AMI also understands that with more responsibilities being put on Credit Union managers and staff there are sometimes not enough hours in the day to get done your normal tasks, thats why we give our customers options. Two options are currently available from AMI, one will allow your credit union to perform the download of the most recent SDN List and perform the match process yourself. In the second option AMI will perform the match process to the most recent SDN List and provide you a report of the results. With this second option AMI will complete the compare for you and send you a report. Either way you will be confident that your credit union is in compliance.