OFAC Compliance Essentials
OFAC Compliance Essentials
Navigating Global Sanctions: Mastering OFAC Compliance for Business Integrity
This 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 compliance with OFAC regulations, including the responsibilities of businesses and individuals and the consequences of non-compliance.
Courses in this Certificate Program
- Total Hours: 4
- LIVE Online: 4 Hours+
- Tuition: Contact Us
| Courses in this Program | Hours | Delivery Method |
|---|---|---|
| OFAC Compliance Essentials | 4 Hours | LIVE Online |
| LIVE Instructor AMA - bi-monthly | 1 Hour + | LIVE Online (optional) |
Upcoming LIVE Instruction Dates
Instructor AMA Friday July 5 2024
Friday | 1 Hour | 2:00-3:00 PM EST (11:00 AM PT, 6:00 PM GMT) Attend LIVE to learn directly from...
July 5 @ 2:00 pm - 3:00 pm
Course Objectives:
- Understand the role and legal authority of the Office of Foreign Assets Control (OFAC)
- Become familiar with the types of sanctions programs administered by OFAC
- Learn about compliance with OFAC regulations, including the responsibilities of businesses and individuals
- Understand the consequences of non-compliance with OFAC regulations
- Learn best practices for complying with OFAC regulations in international business transactions.
Certificate of Completion OFAC Compliance Essentials – 4 Hours
OFAC Compliance Essentials Outline
Module 1 – Introduction to OFAC
- Definition and overview of the Office of Foreign Assets Control (OFAC)
- OFAC’s Role in Enforcing Economic and Trade Sanctions
- Legal Authority and Jurisdiction of OFAC
- Types of Sanctions Programs Administered by OFAC
Module 2 – Legal and regulatory framework for OFAC compliance
- Relevant Laws and Executive Orders
- OFAC Regulations and Guidance
- OFAC penalties
Module 3 – OFAC compliance policies and procedures
- Senior Management Commitment
- Developing and Implementing an OFAC Compliance Program
- Testing and Auditing
- Training
- Root Causes of OFAC Sanctions Compliance Program Breakdowns
- OFAC Monitoring and Review Process
- Screening for Sanctioned Parties
- Recordkeeping and Reporting Requirements
Module 4 – Best practices for OFAC compliance in Financial Services
- Best Practices
Module 5 – Challenges and common pitfalls in OFAC compliance
- Challenges
- Navigating Complex and Evolving Sanctions Regimes
- Dealing with Ambiguities and Uncertainties in OFAC Guidance
- Managing Third-Party Risk
Module 6 – Prohibited Transactions
- Examples of prohibited transactions
Module 7 – Case studies and examples of OFAC enforcement actions
- OFAC Financial Sector Enforcement Actions
- Recent Real-world Examples of Recent OFAC Enforcement Cases
- Enforcement Actions Against Crypto Exchanges
- Lessons Learned from these Cases
Module 8 – Conclusion and wrap-up
- Summary of Key Points
- Future Developments and Ongoing Challenges in OFAC Compliance
Course Info
- See Live Dates Below
- LIVE Online
- Tuition: Contact Us to Enroll
- Grant Funding Available
- 4 Hours
Additional Information
- Module Quizzes and Knowledge Checks
- Guest Lectures & Networking
- Student Orientation
- LIVE Online Instructor AMAs
- Certification Exam Prep
Certification Competencies
This course provides education toward two Web3 Certification Board (W3CB) Focus Areas Certification Exam Competencies.
Review Certification Focus Areas.
This course is part of the following Certification programs.
Certified Blockchain Financial Analyst
- Web3 Foundations
- Blockchain Foundations
- Blockchain & Bitcoin Intensive
- AI Essentials
- Exam Voucher: W3CB Web3 Foundations Level 1 Certification
- Blockchain for Finance
- CBDC Essentials
- Fundamentals of DeFi & Primitives
- Key Management
- Tokenomic Essentials
- Blockchain Enterprise Strategy
- Exam Voucher: W3CB Blockchain Financial Analyst Level 2 Certification
Certified Blockchain Enterprise Professional
- Web3 Foundations
- Blockchain Foundations
- Blockchain & Bitcoin Intensive
- AI Essentials
- Exam Voucher: W3CB Web3 Foundations Level 1 Certification
- Blockchain Development Decision
- Key Management
- Blockchain Enterprise Strategy
- Fundamentals of DeFi & Primitives
- Non-fungible Token Essentials
- Tokenomic Essentials
- Understanding L1 and L2 Blockchains
- Exam Voucher: W3CB Blockchain Enterprise Advocate Level 2 Certification
- Introduction to DevOps
- Information Security and Cyber Risk Awareness
- Risk Management for Blockchain-Based Technology Companies
- Data Protection Regulation: GDPR, CPRA/CCPA
- OFAC Compliance Essentials
- Introduction to Blockchain Scrum Master
- Blockchain Architecture 101
- Blockchain Architecture 201
- Exam Voucher: W3CB Blockchain Enterprise Professional Level 3 Certification
