Tag: OFAC

The landscape of financial crime compliance is rapidly transforming. Amidst political upheavals and technological advancements, the cost of compliance has become an integral part...

Independent reviews are a cornerstone of a strong, risk-based BSA/AML and OFAC compliance programme.

Sanctions serve as a powerful foreign policy instrument, exerted by governments to influence behaviour by penalising nations, entities, or individuals engaged in unlawful activities. According...

The US, UK, and EU each implement a "50 percent rule" within their sanctions frameworks, crucial for monitoring international financial activities.

As we move into the latter half of 2024, the landscape of international relations is increasingly fraught with challenges, from escalating global conflicts to...

Never before has the need for global regulatory compliance been so critical, with companies operating across international borders and facing a labyrinth of diverse regulatory frameworks. This comprehensive guide explores what global regulatory compliance entails, its significance, and the main compliance categories.

In today's financial landscape, AML transaction monitoring is key for protecting the integrity of financial institutions and the global financial system. This continuous surveillance of...

Sanctions play a crucial role in international diplomacy and law enforcement, ensuring that countries and entities adhere to international norms and regulations. Keeping up to date with the ever-evolving sanctions regulations, including OFAC's 50% Rule and the EU's new directives, remains a top priority for companies worldwide.

In recent years, United States financial regulators have established themselves as global leaders in enforcement. In 2022, they imposed $3bn in fines, nearly three...

A recent post by Alessa has detailed what the Office of Foreign Assets Control Specially Designated Nationals and Blocked Persons List is.