Office of Foreign Assets Control (OFAC)
The US Treasury office that administers and enforces economic and trade sanctions.
Overview
OFAC maintains the Specially Designated Nationals list and other sanctions lists, issues general and specific licences, and imposes civil penalties for violations. Entities owned 50% or more by blocked persons are also treated as blocked.
Its powers include writing binding rules, investigating and imposing penalties and granting and withdrawing licences or registrations.
In the United States it works at federal level, alongside CFTC, OCC, DOJ and FinCEN. Instruments connected to it in this glossary include OFAC requirements.
Check the official sources below for legal scope, applicable dates and exceptions. This entry is an explanatory reference, not legal advice.
Why it matters
It can both set the rules and punish breaches of them, so its priorities shape compliance risk directly.
Who it affects
Organisations in financial services and crypto assets in the United States.
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. Select one to open it.
What to do about it
- 1Confirm whether OFAC has power over you, and through which licence, registration, membership or activity.
- 2Follow its rules, guidance and enforcement publications as they are issued.
- 3Map each obligation it creates to a control with a named owner.
- 4Keep examination-ready evidence for its highest-risk obligations.
From requirement to evidence.
Regulation Layer tracks its publications in the change feed, maps its obligations to your controls, and links its enforcement actions to the obligations they cite.
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