To assist dealers in complying with the USA-PATRIOT Act (HR 3612), the system has incorporated the U.S. Treasury Department's Specially Designated Nationals (SDN or OFAC) List, also known as the Terrorist Watch List.
To check a potential buyer's information against the OFAC List, you must first have downloaded a copy of the current SDN List database from Friday Systems, Inc.'s online library.
This list is updated automatically when Lot Wizard Pro is started in the morning.
After entering the buyer (and co-buyer) information in the Buyer Information screen, Lot Wizard Pro will automatically run the name against the OFAC list and enter the date and time in the text box next to the OFAC Check button. The OFAC Check button needs to be used only if the OFAC field remains blank, or if the OFAC list has been updated and the dealer wants to re-check the name.
If the system finds a possible match, a window will appear to let you know that this buyer's name appears on the SDN List. The window will display the customer's name as well as possible aliases and other addresses.
Note: A possible match of a customer's name to a listing on the OFAC List does not automatically mean that this customer is the individual actually listed on the government's SDN List. For example, this customer may be unfortunate enough to have the same last name as a person listed on the OFAC List. It is still up to you, the dealer, to take extra steps to ensure this customer is not the actual person listed on the OFAC List. If you are using the optional 700Credit dashboard, you can also run this information through their site.