July 6, 2023
10:00am-11:30am
Member Fee (Live or Recording): $165 per connection
Non-Member Fee (Live or Recording): $265 per connection
In today’s shifting political landscape, the question is can we comply? Will we have a hit? It is a crazy quilt of OFAC sanctions and programs that we are asked to comply with. It is your job to manage the OFAC risk and do the best you can in this environment. Your policy, procedures and risk assessment will mitigate your risk and help your institution comply with OFAC sanctions. What are the reports we need to complete if we get a match? What are the steps we need to take to get the money secured?
Topics include:
- Developing a good OFAC Compliance Program
- Reports to complete—Blocking and Rejecting procedures
- How financial institutions get fined
- Audit, Training, Risk Assessments and OFAC Officer
- General and Specific Licenses and maintenance of those
- Issues with particular sanction programs
- OFAC has posted a notice of recent actions announcing it is adding new Part 520 to 31 CFR Chapter V regulations to implement Executive Order 13928 of June 11, 2020 ("Blocking Property of Certain Persons Associated With the International Criminal Court").
- OFAC is also amending the Weapons of Mass Destruction Proliferators Sanctions Regulations and Iranian Transactions and Sanctions Regulations at 31 CFR Parts 544 and 560.
Deborah Crawford is the President of gettechnical, inc. a Florida-based firm, specializing in the education of banks and credit unions across the nation. Her 35+ years of banking and teaching experience began at Hibernia National Bank in New Orleans. She graduated from Louisiana State University with both her bachelor's and master’s degrees. Deborah's specialty is in the deposit side of the financial institution where she teaches seminars on regulations, documentation, insurance and Individual Retirement Accounts.
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