OFAC requirements
US sanctions obligations administered by OFAC: screening, blocking and rejecting prohibited transactions, and reporting them.
Overview
US persons must not deal with sanctioned parties or jurisdictions, must block or reject prohibited transactions and report them to OFAC within set deadlines, and should run a risk-based sanctions compliance programme. Entities owned 50% or more by blocked persons are treated as blocked.
As regulation it is binding and specific, and it is the layer most directly mapped to controls. The authorities most closely connected to it are OFAC.
Check the official sources below for legal scope, applicable dates and exceptions. This entry is an explanatory reference, not legal advice.
Why it matters
US sanctions apply far beyond US borders and violations can be strict-liability.
Who it affects
Banks, payment firms, crypto businesses, exporters and any US person.
Where it sits
Ten linked steps connect where you operate to the proof that you complied.
- 01Jurisdiction
- 02Industry
- 03Activity
- 04Authority
- 05Regulation
- 06Requirement
- 07Guidance
- 08Control
- 09Evidence
- 10Enforcement
Connections
The terms most closely tied to OFAC requirements. Select one to open it.
What to do about it
- 1Confirm whether you are in scope: who it covers, which activities and where.
- 2Break it into testable requirements.
- 3Map each requirement to a control and an owner.
- 4Track amendments, implementing rules and guidance.
- 5Keep sealed evidence for every control run.
From requirement to evidence.
OFAC obligations map to screening and blocking controls tested on every transaction.
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