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SUMMARY:OFAC Compliance Essentials
DESCRIPTION:OFAC Compliance Essentials May 2 2024\nLive Instructor-Led Course\nThursday\, May 21 2025\n4 Hours\n11:00 AM to 2:00 PM Eastern Time  (starting 8:00 AM PT / 3:00 PM GMT)\nThis course will provide an overview of the Office of Foreign Assets Control (OFAC) and its role in enforcing economic sanctions and trade restrictions. The course will cover the legal authority and jurisdiction of OFAC and the types of sanctions programs administered by OFAC. The course will also discuss conformity with OFAC regulations\, including the responsibilities of businesses and individuals and the consequences of non-compliance. \nCourse Objectives:\n\nUnderstand the role and legal authority of the Office of Foreign Assets Control (OFAC)\nBecome familiar with the types of sanctions programs administered by OFAC\nLearn about compliance with OFAC regulations\, including the responsibilities of businesses and individuals\nUnderstand the consequences of non-compliance with OFAC regulations\nLearn best practices for complying with OFAC regulations in international business transactions.\n\nCourse Outline\n1 – Introduction to OFAC\n\nDefinition and overview of the Office of Foreign Assets Control (OFAC)\nOFAC’s Role in Enforcing Economic and Trade Sanctions\nLegal Authority and Jurisdiction of OFAC\nTypes of Sanctions Programs Administered by OFAC\n\n2 – Legal and regulatory framework for OFAC\n\nRelevant Laws and Executive Orders\nOFAC Regulations and Guidance\nOFAC penalties\n\n3 – Policies and Procedures\n\nSenior Management Commitment\nDeveloping and Implementing an OFAC Program\nTesting and Auditing\nTraining\nRoot Causes of OFAC Sanctions Program Breakdowns\nOFAC Monitoring and Review Process\nScreening for Sanctioned Parties\nRecordkeeping and Reporting Requirements\n\n4 – Best practices for OFAC compliance in Financial Services\n\nBest Practices\n\n5 – Challenges and common pitfalls in OFAC compliance\n\nChallenges\nNavigating Complex and Evolving Sanctions Regimes\nDealing with Ambiguities and Uncertainties in OFAC Guidance\nManaging Third-Party Risk\n\n6 – Prohibited Transactions\n\nExamples of prohibited transactions\n\n7 – Case studies and examples of OFAC enforcement actions\n\nOFAC Financial Sector Enforcement Actions\nRecent Real-world Examples of Recent OFAC Enforcement Cases\nEnforcement Actions Against Crypto Exchanges\nLessons Learned from these Cases\n\n8 – Conclusion and wrap-up\n\nSummary of Key Points\nFuture Developments and Ongoing Challenges in OFAC Compliance\n\nCertificate of Completion\nThis course provides education toward two Web3 Certification Board (W3CB) Certifications\, including Blockchain Financial Analyst and Blockchain Enterprise Professional.  Review the Certification focus areas and exam competencies.
URL:https://on360.co/event/ofac-compliance-essentials-2/
LOCATION:ZOOM
CATEGORIES:OFAC Compliance
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