August 1, 2023

OFAC goes to Hollywood

The Office of Foreign Assets Control of the US Department of the Treasury has published the first in a series of short videos about the function of OFAC and the sanctions regimes it is responsible for implementing.  The series is entitled “Introduction to OFAC.”  The first episode contains an overview of OFAC, including its history, mission, and partnership with the private sector.  Subsequent videos in the series will cover best practices for sanctions compliance, reporting requirements, and general and specific licenses.

A second video series, to be launched in the near future, is called “OFAC Shorts.”  Its purpose will be to address questions raised on OFAC’s hotline.  It is designed as an educational tool to be shared with personnel in the private sector who have sanctions compliance responsibilities.

Press release | Episode 1:  OFAC