OFAC Basics

The Office of Foreign Asset Control (OFAC) requirements can be daunting at times. Most institutions have effective policies/procedures in place to check the OFAC list and, for the most part, that process is pretty normal and routine. What often throws institutions for a loop is when they have a “hit” or a potential hit and what to do from there.

OFAC has an OFAC Video Series available on their website that covers some of the basics and may be helpful to you. Some of the videos are geared towards your customers and what they can do if their funds are blocked, etc. It is our understanding that new videos will be added periodically. The following are currently available:

Introduction to OFAC Series

  • Episode 1: The Office of Foreign Assets Control
  • Episode 2: Blocking and Non-Blocking Sanctions

OFAC Basics

  • Sanctions List Search
  • My Funds are Blocked, Now What?
  • Applying for a License to Release Blocked Funds
  • Requesting OFAC Guidance

Learn More

Published
2025/06/02
Amy Kudlacek

Amy Kudlacek

Amy brings many years of banking and compliance experience to Banker’s Compliance Consulting. She has worked for both large and small financial institutions and spent time working in every area of a bank. She started out as a teller in college and eventually became a branch manager. Her love, however, was always compliance. Amy began her career with Banker’s Compliance Consulting in 2000. Her knowledge and experiences have allowed her to develop a well-rounded and practical approach to regulatory compliance. Amy is CRCM certified, has a Bachelors Degree in Business Administration and is a graduate of the ABA Compliance School. Amy & her husband have two children at home and stay busy following their activities. They spend a lot of time in the bleachers!

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