OFAC Kyc FAQs
Answers to common questions about OFAC sanctions and KYC, and how identity checks differ from list screening.
TL;DR
TL;DR: KYC verifies who a counterparty is, while OFAC screening checks whether that counterparty is blocked. For agents, SanctionsAI adds kya_verify to know your agent, alongside SDN List screening.
Identity checks vs list screening
Know-your-customer (KYC) processes collect and verify identity information, while OFAC screening compares the counterparty against the SDN List. The two are complementary: KYC establishes who you are dealing with, and screening determines whether that party is designated. For autonomous agents, SanctionsAI extends the idea with kya_verify, a know-your-agent check.
Common questions
- Does KYC replace OFAC screening? No, it complements it. A verified identity can still be on the SDN List.
- What does SanctionsAI screen? 947 OFAC-listed crypto wallets and 19,218 SDN names, synced hourly.
- How is screening called? One HTTP call in under 100 ms, returning ALLOW or BLOCK.