PATRIOT ACT NAME CHECKS

Many members have asked how to conduct Patriot Act-compliant name checks on parties to real estate transactions. To conduct these checks, compare the parties' names to the list of Specially Designated Nationals (SDNs) - provided by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) - before the closing. A search page is provided, for convenience. Each time you conduct a name check, verify that you have the most current version of the list. The OFAC updates it as new information comes in.

The SDN list contains many common names. If you find a match or a partial match to a name on the SDN list, you may wish to collect a Personal Information Affidavit (ATG Form 3008) from the parties to eliminate false matches. Use the same procedure to examine the affidavit as you would for judgment and lien index names. If you have an exact match between a party and a name on the SDN list, and the Personal Information Affidavit does not create a distinction between the two, then you must call the Compliance Programs Division of OFAC at 800.540.6322 to obtain direction on how to proceed.

Contact ATG Underwriting staff at 800.252.0402, 312.372.8361, or legal@atgf.com if you have further questions about the Patriot Act or creating a compliance program.

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