Should SWIFT 910 be OFAC checked?

Answer 1

Yes, SWIFT 910 messages should be OFAC checked as part of compliance with U.S. regulations. OFAC (Office of Foreign Assets Control) requires financial institutions to screen transactions against its sanctions lists to prevent dealings with sanctioned individuals or entities. Ensuring that SWIFT 910 messages comply with these regulations helps mitigate legal risks and prevents potential penalties. Additionally, it supports the broader goal of maintaining the integrity of the financial system.