General Questions Answered Regarding OFAC Licenses, OFAC Licensing Procedures, and Consequences of Violating OFAC Laws

(1) What is OFAC? OFAC stands for the Office of Foreign Assets Control which is an office of the US Department of the Treasury administering and enforcing economic and trade sanctions based on US foreign policy and national security. (2) Why do I need to know about OFAC and its policies? OFAC has prohibited certain […]