Description

Provides key information relative to OFAC laws and regulations that are part of bank employees’ daily responsibilities. Explains the overall purpose and background of OFAC. Describes the purpose and use of the blocked persons list, as well as the general guidelines for handling matched names and blocked funds.
What You’ll Learn
After completing this course, students will be able to:

Explain the background of OFAC and the purpose of economic and trade sanctions

Describe who must comply with OFAC regulations

Describe the penalties for noncompliance

Describe the purpose and use of the OFAC Specially Designated Nationals and Blocked Persons List

Describe how to handle a matched name

Describe how to handle blocked or rejected transactions

Identify reports that must be made to the United States Treasury

Additional information

Audience	Bank personnel who have deposit or lending responsibilities.
Credits	0.5 CCTS, CFSSP, CLBB, CRCM, CSOP, CAFP
Member Price	55.00
Non-Member Price	75.00
Course Number	ABA
Location	Online Self-Paced
Vendor	ABA
Course Code	ABA
Prerequisites	None
Day	Online