FAQ
What Is OFAC In Banking?
In the banking sector, OFAC regulations ensure that financial institutions do not engage in transactions with sanctioned countries, entities, or individuals. Banks are required to screen all clients, counterparties, and transactions against OFAC lists, including the SDN list. Fai Read more »
What Is OFAC?
The Office of Foreign Assets Control (OFAC) is a division of the U.S. Department of the Treasury responsible for administering and enforcing economic and trade sanctions. These sanctions are applied against targeted foreign countries, organizations, and individuals. The primary g Read more »