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Sources Roth, E. (2024, August 29). ChatGPT’s weekly users have doubled in less than a year. Axios. Retrieved from Axios The Verge. (2024, August 29). OpenAI’s GPT-4o Mini and its impact. The Verge. Retrieved from The Verge CNBC. (2024, August 29). US AI Safety Institute to evaluate major AI models. CNBC. Retrieved from CNBC

Implementing OFAC Compliance in Specific Business Areas: Challenges and Considerations The Office of Foreign Assets Control (OFAC) compliance is a crucial element in the financial services sector, particularly in specific business areas such as trade finance, correspondent banking, and cross-border payments. Each of these areas presents unique challenges that require a tailored approach to ensure

OFAC Enforcement Actions: Lessons Learned The Office of Foreign Assets Control (OFAC), a financial intelligence and enforcement agency of the U.S. Treasury Department, has significantly intensified its enforcement efforts in recent years. This heightened scrutiny has resulted in substantial penalties for financial institutions found to be in violation of sanctions regulations. This article provides an