Program Description:
Office of Foreign Assets Control (OFAC)
requirements deal with every account relationship and
transaction that the bank offers to its customers. This
AIB course centers on the OFAC regulations designed
to impose economic sanctions against certain
designated countries, what transactions are involved,
and how to handle suspicious transactions. OFAC
terminology is also included.
After successfully completing this course, the student will be able to:
- Define the purpose of OFAC
- Describe the purpose and use of the Specially Designated Nations and Blocked Persons List
- Explain what to do when there is a match name
- Identify the reports that must be made
Who Should Attend:
Bank personnel who have deposit or lending
responsibilities.
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