Background on OFAC's Frequently Asked Questions
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Featured FAQs
5. How do I determine if I have a valid OFAC match?
If you are calling about a wire transfer or other "live" transaction:Step 1. Is the "hit" or "match" against OFAC's Specially Designated Nationals (SDN) list, one of its other sanctions lists, or …
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401. OFAC’s 50 Percent Rule states that the property and interests in property of entities directly or indirectly owned 50 percent or more in the aggregate by one or more blocked persons are considered blocked. How does OFAC interpret indirect ownership as it relates to certain complex ownership structures?
"Indirectly," as used in OFAC’s 50 Percent Rule, refers to one or more blocked persons' ownership of shares of an entity through another entity or entities that are 50 percent or more owned in the …
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Recently Added FAQs
1235. Does Venezuela General License (GL) 46 authorize downstream trading activities in Venezuelan-origin oil?
Yes. Once a transaction with the Government of Venezuela (GOV), Petróleos de Venezuela, S.A. (PdVSA), or its majority-owned subsidiaries (PdVSA Entities) has been completed pursuant to GL 46, and the …
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1234. How does a financial institution verify a transaction is compliant with Venezuela General License (GL) 46?
In connection with its normal due diligence, a financial institution may rely on the statements of its customer that the transaction is consistent with the terms of GL 46, unless it knows or has …
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General Questions
Sanctions Programs
- Afghanistan-Related Sanctions
- Balkans-Related Sanctions
- Belarus Sanctions
- Burma Sanctions
- Chinese Military Companies Sanctions
- Counter Terrorism Sanctions
- Cuba Sanctions
- Cyber-related Sanctions
- Ethiopia-Related Sanctions
- Global Magnitsky Sanctions
- Hong Kong-related Sanctions
- Iran Sanctions
- Nicaragua-related Sanctions
- North Korea Sanctions
- Promoting Accountability for Assad and Regional Stabilization Sanctions (PAARSS)
- Russian Harmful Foreign Activities Sanctions
- Somalia Sanctions
- Sudan, Darfur, and South Sudan-related Sanctions
- Ukraine-/Russia-related Sanctions
- Venezuela Sanctions
Sanctions Compliance
- Assessing OFAC Name Matches
- Starting an OFAC Compliance Program
- Blocking and Rejecting Transactions
- Filing Reports with OFAC
- Compliance for Internet, Web Based Activities, and Personal Communications
- Compliance for the Insurance Industry
- Additional Questions from Financial Institutions
- Questions on Virtual Currency