Discusses the economic sanctions programs under the Office of Foreign Assets Control or OFAC, how they affect banks and the steps banks must take to comply. Explains the fundamental requirements of a compliance program and the relationship between OFAC and BSA are also covered.What You'll Learn:After completing this course, students will be able to:

• Describe the purpose of the Office of Foreign Assets Control and some of the OFAC laws and penalties
  
• Explain who and what is covered by OFAC requirements and other related sanction programs
  
• Describe elements of an OFAC compliance program for a financial institution
  
• Explain how OFAC enforces sanctions compliance
  
• Describe additional considerations for financial institutions when developing a sanctions compliance program

You have 6 months to complete the course and gain your printable certificate. Course Length: 45 minutes