OFAC Compliance: Meeting Evolving U.S. Sanctions Requirements, Minimizing Risk of Sanctions
Recording of a 90-minute CLE video webinar with Q&A
This CLE course will guide counsel on Office of Foreign Assets Control (OFAC) compliance. The panel will discuss the new OFAC framework and OFAC’s enforcement priorities. The panel will also discuss screening, monitoring, and receiving payments, as well as offer best practices for ensuring effective sanctions compliance.
Outline
- U.S. sanctions
- OFAC framework
- Screening processes
- Receiving payments
- Blocking accounts
- Export and re-export requirements
- Steps to take if violations are suspected or discovered
Benefits
The panel will review these and other key issues:
- How did the OFAC framework change the compliance landscape?
- What constitutes prohibited "facilitation" of a sanctions transaction?
- What steps should companies take to ensure sanctions compliance? What are the steps to minimize potential exposure if violations occur?
Faculty
Timothy P. O'Toole
Member
Miller & Chevalier
Mr. O'Toole focuses on economic sanctions and export controls. He represents companies and individuals at all... | Read More
Mr. O'Toole focuses on economic sanctions and export controls. He represents companies and individuals at all stages of the process, including enforcement actions brought by the Treasury Department's Office of Foreign Asset Control (OFAC), the Commerce Department's Bureau of Industry and Security (BIS) and the U.S. Department of Justice (DOJ). He provides clients with advice on compliance with the U.S. economic sanctions and export controls laws. He also counsels and defends clients in white collar criminal matters, conducts internal corporate investigations, and represents potential witnesses and targets in government investigations.
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Brian J. Fleming
Partner
Steptoe & Johnson
Mr. Fleming's practice matters at the intersection of national security and international trade, with an emphasis... | Read More
Mr. Fleming's practice matters at the intersection of national security and international trade, with an emphasis on economic sanctions, export controls, and foreign direct investment. He uses his government experience, along with his deep understanding of US national security interests and the demands of cross-border global business, to offer practical guidance and strategies for his CFIUS clients. His practice also focuses on assisting clients with all aspects of US economic sanctions and export controls. He advises multinational companies across a range of industries in navigating the rules and regulations of the Treasury Department's Office of Foreign Assets Control (OFAC), the Commerce Department's Bureau of Industry and Security (BIS), and the State Department's Directorate of Defense Trade Controls (DDTC). He has led internal investigations regarding possible violations of economic sanctions and export control laws and has represented companies and individuals in government enforcement actions, including criminal cases brought by the DOJ.
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