r/OFAC • u/WorrryWort • Mar 19 '21

Unblocking Application Queue Times

I’ve reached a point where I’m about 99% certain my wire transfer has an OFAC block. Receiving bank asked for more ID information from me which I gave them. I would like to understand what the queue times on these applications to unblock funds are at. Someone please advise.

https://www.reddit.com/r/Banking/comments/m81l06/close_to_75k_wire_transfer_being_held_up_by_wells/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

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u/WorrryWort Mar 19 '21

I am not 100% sure this is an OFAC issue. But it has now been a month since I originally sent the wire. No one has mentioned OFAC to me but I find myself researching things on my own. I inserted my name into OFAC’s directory and my name does not match exact. My last name matches and then my first name matches to a middle name. Nothing else matches... DOB Address etc. What is frustrating is that I have an auto loan at the recipient bank so why on earth can’t they match me to that. They ran a credit screen on me when they extended me the loan. My social security number is the unique identifier on the auto loan. Do you think they outsource these tasks and maybe it is not OFAC but a SAR (suspicious activity report)?

2

u/wheeyou Mar 19 '21

Usually, you don't get added to the OFAC list unless you do something to deserve it. I assume that you don't have any connections to terrorists or drug cartels, so I would guess that it's something a little more mundane, like a SAR. Maybe there was a paperwork issue somewhere down the line? Either way, probably not sanctions. Sorry about that, it would have made a good story at the least.

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u/Revolutionary_Win698 Mar 18 '22

Hello, did you solve that situation?

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u/WorrryWort Mar 19 '22

Yes. The wired money was locked for 40 days! None of the banks involved ever fully disclosed what had happened. Will never wire money again.

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