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OFAC Regulations Fundamentals

February 08, 2022

The Office of Foreign Assets Control (OFAC), a department of the U.S. Treasury Department, sets forth U.S. sanctions including applicability, targeted parties, prohibited actions, and penalties. Who is required to comply with U.S. sanctions? This practice note covers the fundamentals of U.S. economic sanctions laws and regulations as well as compliance requirements.

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Related Content        

  • OFAC Violation Responses
    Access this practice note to learn how a timely response to OFAC sanctions violations is key. You’ll read about actions and other issues to consider when responding to a violation of U.S. sanctions laws.
  • OFAC Violation Response Checklist
    Explore this checklist which outlines the steps and compliance requirements that companies and their counsel must be aware of when responding to an OFAC violation.

 

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