How to Run an OFAC Check in SecureWebX

The sanctions check belongs on the deal, not in a browser tab somebody has to remember to open. Here is how to run it and what the file shows afterward.

1. Open the application you are screening

   In the SecureWebX console, open the deal from the application inbox. Running the check from the record is the whole point: the name that gets screened is the name the applicant entered and signed, not a name retyped into a separate site by somebody in a hurry.

2. Read the applicant details first

   Check the spelling, the middle name and the date of birth on the application before you screen. A name entered three ways produces three different afternoons, and the file in front of you is the one the customer filled out.

3. Run the screening from the record

   Use OFAC screening on the application. It takes seconds, and it happens on the deal rather than in a tab you then have to screenshot and staple into a jacket. A co-applicant is part of the same file, so screen the people on the deal from the deal.

4. Read the result on the file

   The result shows on the application next to the consent, the disclosures, the documents, the stipulations and the lender shares. The audit log records that you ran it and when, alongside every other action taken on that deal.

5. Follow your store's policy on a potential match

   A potential match is not a decision. Your store's counsel wrote the policy for this, and the software does not replace it. Hold the deal, work the policy, and record what you saw and who you called on the file so the sequence is documented.

6. Screen before the file leaves the store

   Make the check part of the routine before an application is shared with a lender, so the screening, the result and the share sit in order on one record. A manager reading the deal later sees what was done and when, without asking anyone.

You need a SecureWebX login with a role that works finance files, and a submitted application. The console opens from the SecureWebX button in the LeadLocate CRM dock with one login, and SecureWebX is created with your LeadLocate account, so the screening is on the record from your first application.

You also need your store's written policy. OFAC screening checks a person against the sanctions list the Office of Foreign Assets Control maintains, and what a store does with a potential match is a compliance question your counsel answers, not a setting in software. Stores usually screen every applicant, before the file goes anywhere, and the OFAC screening feature page describes how that fits the rest of the record.

A result on the application, and an audit log entry naming you and the time. That is what a screening is for: not the click, but the record of the click. Records are archived, never deleted, so a check run on a deal years ago is still on that deal when somebody asks about it.

The result sits with everything else the file holds, which is what makes it useful later. The applicant's consent against versioned terms, the disclosures they were shown, the supporting documents, the stipulations, the lender shares and the decision are all on the same record in the credit application inbox. One file answers the whole question of what your store did on this deal, in order.

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You cannot find the screening on the application. Check your role with a manager. Console users are invited with roles, and a store decides who works finance files, so the action shows for the people whose job it is.

The name on the application is spelled oddly. Screen what the applicant signed, then note any variation you are aware of on the file. Correcting a customer's own entry silently is the wrong instinct on a document they signed.

A potential match came back. Stop and work the policy. Hold the deal, record a note on the application with what you saw, the time, and who you escalated to. Your counsel decides the outcome, and the file documents the sequence.

You need to prove the check was run. Open the application and read the audit log. It carries the screening with the user and the time, and documents open in a watermarked viewer with print and download gated, so the record travels on your store's terms.

While you are in a compliance frame of mind, two neighbors are worth knowing. In the lender directory, an unfamiliar institution's record can be looked up with Check the FDIC record or Check the NCUA record, which is a quick way to know who you are about to send paper to. The Verified Partners directory lists lenders and vendors by category.

On the vehicle side, the worksheet runs its own checks against the unit on the deal: title, stolen, sales history, auction history and warranty. A finance manager who learns about a branded title before the lender does is having a better week. Those are covered on the credit application worksheets page.

What the screening is, why a dealership does it, and how it sits with the rest of the record is on the OFAC screening page. How the application is protected end to end, from two factor sign in to encryption at rest and the watermarked viewer, is on credit application security. The LeadLocate Help Center holds the rest of the finance office guides. A screening step your compliance program needs that is not on the record today is available on request, and our team puts it in production for your dealership.

What is an OFAC check, and why does a dealership run one?

It checks a person against the sanctions list maintained by the Office of Foreign Assets Control. Dealerships that extend or arrange credit screen applicants as part of their compliance program, and counsel sets the store's policy.

Where do I run it?

On the credit application itself, in the SecureWebX console. The name screened is the name the applicant entered and signed, and the result stays on that record with the audit log.

Does it screen a co-applicant too?

A co-applicant is part of the same application, so the people on the deal are screened from the deal rather than from two separate searches in two separate places.

What happens if a potential match comes back?

Your store's policy decides. Hold the deal, record a note on the application with what you saw and who you escalated to, and follow the steps your counsel wrote. The file documents the sequence.

OFAC screening is part of SecureWebX, included with every LeadLocate plan, month to month. Watch the pre-recorded demo, or talk to us about your compliance program.

Prefer to talk right now? Call or text 844-376-2274.