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Financial Regulations

Why is Payoneer asking for my Social Security Number (SSN)?

Payoneer, like many other financial institutions, may ask for your Social Security Number (SSN) to verify your identity. This is a standard procedure in the financial industry, especially for companies that deal with international money transfers….

Understanding the Relationship between Payoneer and OFAC

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What is the relationship between Payoneer and OFAC?

OFAC, or the Office of Foreign Assets Control, is a department of the U.S. Treasury that enforces economic and trade sanctions against countries and groups of individuals involved in terrorism, narcotics, and other disreputable activities. Payoneer,…