Banking compliance workflow for Tallyfy

Authorize wire transfers with required security checks

Wire fraud targets banks every day. This template enforces identity verification, OFAC sanctions screening, fund verification, and dual approval for large amounts so you catch red flags and maintain BSA/AML compliance on every outgoing transfer.

4 steps

6 fields

Import into Tallyfy Preview steps

Banking

Run this workflow in Tallyfy

Import this template into Tallyfy and assign verification steps to operations staff with dual approval routed to authorized approvers for wires over $10,000

Configure Tallyfy form fields to capture verification method, OFAC screening reference numbers, available balance, and federal reference numbers with audit trails

Track wire authorizations in real-time through Tallyfy so compliance officers can see which transfers are pending verification, screening, or approval

Import this template into Tallyfy

Process steps

Verify customer identity

2 hours from previous step

task

Confirm the person requesting the wire is authorized on the account. For phone requests, use callback verification to a number already on file - never a number the caller provides. For in-person requests, check government-issued ID. Red flags: - Urgency or pressure to skip steps - New beneficiary with vague relationship - Recent email compromise reported - Customer seems coached or nervous If you can't verify identity, do not proceed.

Form fields in this step

Verification Method *

Identity Confirmed *

OFAC sanctions screening

1 hours from previous step

task

Screen the beneficiary name, bank, and country against OFAC sanctions lists. Per 31 CFR 501.604, you must screen before processing any transfer. Document any potential matches and escalate to BSA Officer if a hit is found. Never proceed with transfers to: - SDN list matches - Sanctioned countries (North Korea, Iran, etc.) - Blocked persons or entities False positives happen - document your determination.

Form fields in this step

OFAC Screening Result *

Screening Reference Number *

Check account funds and restrictions

1 hours from previous step

task

Verify the account has sufficient available funds for the transfer plus any fees. Check for holds, pending transactions, legal restrictions, or account freezes. Also verify: - No recent fraud alerts on the account - Account is in good standing - Wire limits haven't been exceeded - Customer hasn't reported email compromise

Form fields in this step

Available Balance *

Sufficient Funds *

Account Restrictions *

Obtain approval and execute wire

4 hours from previous step

approval

For wires over $10,000, obtain dual approval from an authorized second approver. Execute the wire through your wire system and obtain the Federal Reference Number. Document: - Approval chain - Execution timestamp - Fed reference or confirmation number - Any notes or exceptions Notify the customer once the wire is sent.

Form fields in this step

Federal Reference Number *

Wire Transmitted Time *

Customer Notified *