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OFAC Sanctioned Countries — Complete 2026 List
Quick Answer: What Are the OFAC Sanctioned Countries? As of 2026, OFAC administers sanctions programs targeting over 20 countries and regions. The countries under comprehensive embargoes (where nearly all transactions are prohibited) are: Cuba, Iran, North Korea, and Syria, plus Read more »
Mastering OFAC Regulations: A Comprehensive Guide for Sanctions Lawyers
In an increasingly interconnected world, sanctions law has become an intricate field requiring a depth of knowledge and meticulous attention to detail. At the center of this legal universe is the Office of Foreign Assets Control (OFAC), a pivotal player in implementing and enforc Read more »
Key OFAC Knowledge Every Sanctions Lawyer Should Have
As the Office of Foreign Assets Control (OFAC) becomes more integral to international law and trade, a profound understanding of its regulations and sanctions is crucial for sanctions lawyers. This expertise allows for precise guidance to clients, ensuring compliance and minimizi Read more »
OFAC Basics for Sanctions Attorneys: An In-Depth Guide
Steering through the complex realm of the Office of Foreign Assets Control (OFAC) is a vital endeavor for attorneys specializing in sanctions law. Comprehending the roles, sanctions programs, and regulations formulated by OFAC is essential for proficiently advising clients, espec Read more »
Leveraging OFAC Guidance: A Comprehensive Guide for Sanctions Lawyers
As an OFAC sanctions lawyer, the Office of Foreign Assets Control (OFAC) is a key regulatory agency you must be familiar with. Part of the U.S. Department of the Treasury, the OFAC’s guidance is instrumental in ensuring compliance with U.S. sanctions laws. Understanding and Read more »
AML and OFAC Compliance: A Guide for Financial Institutions
In the world of finance, where every transaction can have global repercussions, adherence to international standards is critically important. Financial institutions face constant challenges: how to avoid risks, protect their operations, and not lose the trust of their clients? Th Read more »
Penalties for OFAC Violations
Quick Answer OFAC violation penalties can reach up to $1,330,947 per civil violation (or twice the transaction value if greater) and up to $1 million per criminal violation plus 20 years imprisonment. Recent enforcement actions have resulted in settlements ranging from $100,000 t Read more »
OFAC: Its Purpose, Sanction Lists, and Licensing
Quick Answer: What Does OFAC Stand For? OFAC stands for the Office of Foreign Assets Control — a financial intelligence and enforcement agency of the U.S. Department of the Treasury. OFAC is a division of the Treasury’s Office of Terrorism and Financial Intelligence (TFI) Read more »