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
OFAC Basics
Published
2025/06/02