OFAC Search Turns Up Alleged TalibanOperative
TORONTO - (07/14/06) The costly and time-consumingprocess of matching potential member names with potentialterrorists under the USA PATRIOT Act paid off for Sunmark FCU. TheSchenectady, N.Y., credit union normally runs the names ofpotential members and money transfers through the federalgovernments OFAC listOffice of Foreign AssetControlto determine whether the individual is on anycompilation of terrorists or banned entities, according to BruceBeaudette, president of the $430-million institution. The costlyprocedureSunmark pays $2,000 a year to use the BridgerInsight softwarepaid off when one applicant was found to bean alleged member of the Taliban, with which the U.S. and othercountries are at war in Afghanistan. But not just anymemberthe applicant was allegedly the Talibansofficial photographer, Beautette recalled during Thursday'sbreak-out session at NAFCUs annual convention. Credit unionofficials subsequently discovered the alleged Talibanphotographers girlfriend worked also at one of the creditunion's branches as a teller. The teller is no longer with thecredit union.