Office of Foreign Assets Control (OFAC)
Office of Foreign Assets Control. A US regulatory Agency that is responsible for monitoring funds held or transferred to illegal entities. The OFAC list is a list of companies/individuals that should be prevented from sending/receiving funds.
Know Your Customer is the due diligence and bank regulation that financial institutions and other regulated companies must perform to identify their clients and ascertain relevant information pertinent to doing financial business with them.
The routing number (also referred to as RTN, routing transit number, ABA or bank routing number) is a nine-digit numeric code printed on the bottom of checks. This number is used to facilitate the electronic...