Teaching Others

Implementing OFAC Compliance in Specific Business Areas: Challenges and Considerations Photo by Rocio Ramirez on Unsplash 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 [...]

OFAC Enforcement Actions: Lessons Learned Photo by Kenny Eliason on Unsplash 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