Office of Foreign Assets Control (OFAC)

Office of Foreign Assets Control (OFAC)


Re-versioned: Feb. 2014

Price: $55 Members / $75 Nonmembers
Member Online Enrollment | Non-Member Online Enrollment

This course is also available at discounted prices under an annual license.  Call or email for details. Call or email for details.This course is available to ABA Member banks at no cost under a license agreement. Call or email for details.

Course Description:  Office of Foreign Assets Control (OFAC) provides key information relative to OFAC laws and regulations that are part of bank employees’ daily responsibilities. This course explains the overall purpose and background of OFAC. It provides the purpose and use of the blocked persons list, as well as the general guidelines for handling matched names and blocked funds.

Audience: Bank personnel who have deposit or lending responsibilities.

Learning Objectives:  After completing this course, students will be able to:

  • Explain the background of OFAC and the purpose of economic and trade sanctions
  • Describe who must comply with OFAC regulations
  • Describe the penalties for noncompliance
  • Describe the purpose and use of the OFAC Specially Designated Nationals and Blocked Persons List
  • Describe how to handle a matched name
  • Describe how to handle blocked or rejected transactions
  • Identify reports that must be made to the United States Treasury

    The Nebraska Bankers Association is a Local ABA Training Provider.

    For More Information Contact:

    Joanne Smith
    Education and Member Information Coordinator

Nebraska Bankers Association / 233 South 13th Street, Suite 700 / PO Box 80008 / Lincoln, NE 68501-0008