Webclass 144: 3rd parties on OFAC/ PEP lists

Q1. What does OFAC stand for?

Office of Foreign Assets Control

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Office of Financial Action Control

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Q2. Where can we get the latest list of PEPs?

OFAC website

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From a paid service provider

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Q3. What does SDN stand for?

Specially Designated Names

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Specially Designed Naming

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Q4. What other list should we also compare LFA1 to?

The non-SDN sanctions list

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The list of SAP vendors

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Q5. Should we only compare names?

No we should also look at addresses and countries that are considered by the FATF to be necessary for monitoring

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Yes, the most important is if we find a name match

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Q6. Why would we not do a simple join on the name?

Because it could be that only one/some of the words match(es) or that the words are in a different order

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Because it is easier to do a loop

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Q7. In ACL, can we do a join on fields that do not contain exactly the same value?

No

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Yes

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Q8. Which python library do we mention that can be used to automatically create a list of “boring” or “stop words”?

NLTK

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Pandas

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Q9. Why might we want to include a manual list of exclusion words in addition to stop words?

So that we can exclude words such as "Services" "American", etc.

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So that we can be sure to ignore false positives due to words such as "in", "or", etc.

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Q10. Is it possible to use Python with QLIK and PBI?

Yes

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No

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Q11. Why did we use the SUBFIELD() function?

To rearrange the data to have one record per word in the name

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To split the name into many words on the same line

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Q12. Why did we use NOT EXISTS?

To exclude records containing an exclusion word, without having to do a join

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To ensure that we do not include customer data with the vendor data

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Q13. How did we filter our list of words from SAP on the list of words from the OFAC list?

By doing an INNER JOIN

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By using NOT EXISTS

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Q14. Which function did we use to see how similar the original names were (after keeping only alpha numeric upper case)?

LEVENSHTEIN()

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Ratio

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Q15. Why would it not be as good to use the SQL JOIN condition: NAME LIKE ‘%’+NAME2+’%’ OR NAME2 LIKE ‘%’+NAME+’%’?

Because this would require comparing on all words in the same order

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Because this would take up more disk space and run time

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Q16. What other data types should we compare to the OFAC lists?

Customer master data and employee master data

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Intercompany master data

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Q17. To check if there are internal control gaps that risk a fine – what should you benchmark your internal control framework to?

The OFAC Recommendations PDF

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Your Group's internal control guidelines

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WC144 – 3rd parties on OFAC/ PEP lists

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Participants 13

Webclass 144: 3rd parties on OFAC/ PEP lists

admin June 9, 2026

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