A framework for OFAC Compliance Commitments
OFAC’s first guidance on sanctions compliance
The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) has published “A Framework for OFAC Compliance Commitments” setting out not only the five essential components of an effective U.S. sanctions compliance program, but also identifying the most prominent “root causes” of recent sanctions violations.
Our short animation explores the potential landmines both U.S. and non-U.S. companies should avoid as they seek to navigate the complexities of U.S. sanctions compliance.
Read our associated publication, OFAC Publishes Sanctions Compliance Guidance and Identifies Root Causes of Violations, for more information.