Description
This course explains how the Office of Foreign Assets Control’s (OFAC) economic sanctions work and banks’
responsibilities with regard to sanctions programs. It describes how banks screen to prevent bad actors from using the
U.S. financial system and profiting from their bad acts, including what banks should do when they identify a potential match with someone on the OFAC sanctions list. The course also describes the essential components of a sanctions compliance program, what banks may tell customers about blocked funds and reporting, and recordkeeping requirements.
