Hello all – question from our compliance/BSA group:

For banks using Corpay for foreign wires, are you relying on what Corpay is doing for OFAC Checks, or are you also running your own OFAC check before the wire goes out?

If you are relying on Corpay, how have you been able to gain comfort with their process and if you’ve been through an audit, were the auditors okay with Corpay’s process and what did they request for documentation?

Thank you!!

Russ Munroe GVP, Director of Bank Operations/Servicing
P: 585-419-8147 M:585-727-5890 E: xxxxxx@grbbank.com Genesee Regional Bank 1850 South Winton Road Rochester, NY 14618

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