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Office of Foreign Assets Control (OFAC) - E3

Course Description

This course explains the purpose and mission of the Office of Foreign Assets Control (OFAC). The course will provide an overview of the coverage and scope of the sanctions and regulations administered by the OFAC. The sanctions and regulations require financial institutions, such as yours, to block or restrict transactions involving individuals, entities, or governments that are known or suspected of financial criminal activity. You will be an important participant in your financial institution's efforts to help ensure that terrorists, drug cartels, criminal enterprises, and foreign governments subject to U.S. economic sanctions are not using the U.S. financial system to circumvent U.S. economic sanctions, launder money, and further their illegal activities. The course will also describe the essential elements of a sound OFAC compliance program.
30 Minutes
Series: Transaction Compliance
Roles: Asset Management, Commercial, Compliance - External Audit, Compliance - Internal Audit, Mortgage Professionals, Operations & IT, Retail
Course Format: E3, Online Self-Paced
Package: Breakthrough, Expansion

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