Which term is associated with the requirement to report blocked or rejected transactions to OFAC?

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Multiple Choice

Which term is associated with the requirement to report blocked or rejected transactions to OFAC?

The term associated with reporting blocked or rejected transactions to OFAC is OFAC Reporting. When a transaction is blocked because it involves a sanctioned party or asset, or is rejected after screening due to a potential sanction match, the institution completes and submits an OFAC report to document the action. This reporting is a formal part of OFAC compliance to help authorities track and enforce sanctions. The other options don’t fit this action: a positive match describes the screening result that flags a possible sanction hit, narcotics traffickers is a category of sanctions targets, and credit union policies relate to internal governance rather than the external reporting requirement.

The term associated with reporting blocked or rejected transactions to OFAC is OFAC Reporting. When a transaction is blocked because it involves a sanctioned party or asset, or is rejected after screening due to a potential sanction match, the institution completes and submits an OFAC report to document the action. This reporting is a formal part of OFAC compliance to help authorities track and enforce sanctions. The other options don’t fit this action: a positive match describes the screening result that flags a possible sanction hit, narcotics traffickers is a category of sanctions targets, and credit union policies relate to internal governance rather than the external reporting requirement.

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