Online OFAC Training Course
OFAC Sanctions and Embargoes
As a means to further U.S. national security, foreign policy, safety and other objectives, the U.S. Government may decide to use economic sanctions and trade embargoes in dealing with other nations. Administering these sanctions and embargoes is the Office of Foreign Assets Control (OFAC), a division of the U.S. Department of the Treasury.
Compliance with all applicable sanction and embargo regulations is mandatory for U.S. companies and citizens. As such, individuals and organizations subject to OFAC regulations are prohibited from facilitating or helping foreign companies with transactions in which they themselves could not participate directly. Non-compliance with and/or violations of OFAC sanctions can result in significant criminal and civil penalties for the company and for individual employees in some instances.
The Cintas, 30-minute Online OFAC Training Course provides an overview of OFAC sanctions programs and their key provisions and targets. Content features quizzes, news stories, and real-world compliance issues that employees must learn to recognize and handle appropriately to protect themselves and their company. Topics include:
- OFAC regulations — a comprehensive overview
- Compliance — who qualifies?
- Key terms — what you need to know
- Targets — who are they?
- What are “Specially Designated Nationals”?
- Rules for required reporting and recordkeeping
- Noncompliance — know the penalties
- OFAC regulations — practical application