Retain screening, investigation, and blocking records for five years

Sanctions / OFAC policy, §6

Every screening run on every surface, every match workpaper, every hold or blocking action with its timestamps, every suppression with its justification, and every sponsor bank notification is retained for at least five years. Blocked-property and blocking records are kept for at least five years from the transaction date, or the longer period OFAC regulations require, in a format that can be produced for the sponsor bank or an examiner.

Continuous

Five years from each record; from the transaction date for blocking records

File each screening run, workpaper, hold or block, suppression, and notice under the retention schedule with its retention date, and be able to produce any of them on request.

• Retention schedule entry

  Record class, retention period and start date, location

• Suppression log

  Kept for the life of each suppression plus five years

AML Compliance Officer

Leela can file each screening run, workpaper, and notice with its retention date and prove it on request.

Tell Leela about your company to see whether this applies.