OFAC: Office of Foreign Assets Control

OFAC enforces foreign policy and national security goals by imposing economic and trade sanctions. They prohibit transactions and require blocking of assets that belong to people on their lists. They can apply significant sanctions for violations. The rules apply to all US citizens, no matter where they are located, all people in the United States, all US-incorporated entities and their foreign branches.

Next Topic: Key Groups

Previous Topic: Key US Legislation and Regulation relevant to International Transactions

Get the Book & Pass First Time!

Includes all the study notes, the mock exam and detailed explainations of the answers

Get the AML Book & Pass First Time - Instant PDF Download