Bank Secrecy Act for Frontline Employees: 05. Office of Foreign Assets Control
Learning objectives
- Gain an understanding of the office of foreign assets control.
Course overview
In the Treasury Department, there is a division known as the Office of Foreign Assets Control (OFAC). When Congress passes a law placing economic sanctions on a country, OFAC is responsible for ensuring that no one conducts business with that country. OFAC is responsible for publishing the Specially Designated Nationals List (SDN, commonly simply called, "the OFAC list"). This list is updated constantly to deal with rapidly evolving geo-political situations.
The individuals involved in the development and promotion of this course do not receive any compensation or financial benefits outside of their regular employment for their work on this course.
