Is Cuba still on OFAC list?
SANCTIONS ON CUBA In addition to the sanctions imposed today under the Global Magnitsky program, OFAC continues to enforce the Cuba sanctions program, which is the most comprehensive sanctions program administered by OFAC.
Which countries are on the OFAC list?
Currently, sanctioned countries include the Balkans, Belarus, Burma, Cote D’Ivoire (Ivory Coast), Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, and Zimbabwe. The list of sanctioned countries is updated periodically and is available here.
What is OFAC check?
OFAC Search (also known as OFAC Screening, OFAC Scrubbing, and OFAC List Screening) is the process by which organizations identify whether or not any parties involved in a transaction can be found on watch lists maintained by the Office of Foreign Assets Control (OFAC), a division of U.S. Department of the Treasury.
Who must comply with OFAC?
– High volume of international deals – Transactions with a high-risk sanctions violation region – Transactions with a business with connections to sanctions programs – Works with a large customer base that’s changing (typically from a merger) – Sells online goods or services – Has a history of interactions with OFAC
What are the OFAC sanctioned countries?
OFAC Sanctioned Countries. Sanctions regulations vary significantly by country. The following countries are subject to restrictions on certain types of activities, as indicated below. This list is current as of May 30, 2021. Burma (Myanmar): Restrictions on activities with specific parties.
What does OFAC check?
Office of Foreign Assets Control (OFAC) Home Page
What is OFAC responsible for?
What is the OFAC main Purpose? OFAC is responsible for administering and enforcing economic and trade sanctions based on US foreign policy and national security goals against targeted foreign states, individuals, and organizations.