Frequently Asked Questions

466. How do I verify if a name was removed from one of OFAC’s sanctions lists? How do I find the date a Specially Designated National (or other sanctions target) was added to, updated, or removed from an OFAC list?

466 … For historical information about names that have been added to, updated, or removed from OFAC’s Specially Designated Nationals List or one of OFAC’s other sanctions lists , please see our Archive of Changes page . Designation, removal, and update information is organized chronologically by… Read more

56. What is the difference between the Specially Designated Nationals (SDN) List and the Commerce Department's List of Denied Parties? Why can't they be integrated into one list? What about OFAC's other sanctions lists?

56 … SDNs are individuals and entities located throughout the world that are blocked pursuant to the various sanctions programs administered by OFAC. SDNs can be front companies, parastatal entities, or individuals determined to be owned or controlled by, or acting for or on behalf of, targeted… Read more

40. If my financial institution receives a wire going to an embassy in a sanctioned country, can we process the transaction?

40 … This depends on the program. If you have a payment involving an embassy in a targeted country, please contact OFAC Compliance's hotline for directions. … If my financial institution receives a wire going to an embassy in a sanctioned country, can we process the …

43. Does a financial institution need to scan names against OFAC's list of targets upon account opening or can it wait for 24 hours to receive a report from its software vendor on whether or not there is a hit?

43 … There is no legal or regulatory requirement to use software or to scan. There is a requirement, however, not to violate the law by doing business with a target or failing to block property. OFAC realizes that financial institutions use software that does not always provide an instantaneous… Read more

1. What is OFAC and what does it do?

1 … The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) administers and enforces economic and trade sanctions against targeted foreign jurisdictions and regimes, as well as individuals and entities engaging in harmful activity, such as terrorists, international narcotics… Read more

3. What kinds of prohibitions does OFAC impose?

3 … Each OFAC sanctions program is based on different foreign policy and national security goals, so the prohibitions imposed may vary between programs. Many sanctions programs require blocking the property and interests in property of specific individuals and entities and prohibit dealing in such… Read more

4. Are there exceptions to sanctions prohibitions? Are exceptions the same across sanctions programs?

4 … Yes. There may be exceptions to sanctions prohibitions. Exceptions may take the form of authorizations, such as general licenses and specific licenses, or exemptions. OFAC issues general licenses in most of its sanctions programs to authorize certain transactions that would otherwise be… Read more

6. Where can I find specific details about a particular sanctions program?

6 … References to relevant statutes, executive orders, regulations, guidance, general licenses, and sanctions actions for each sanctions program may be found in the Sanctions Programs and Country Information page on OFAC’s website. The OFAC Legal Library page on OFAC’s website also contains links… Read more

7. If I want to engage in a transaction or activity prohibited by OFAC, how can I do so? Can I rely on a general or specific license to engage in a transaction involving a sanctioned jurisdiction or person?

7 … OFAC issues general licenses to authorize certain transactions that would otherwise be prohibited pursuant to a particular sanctions program. These general licenses are self-executing, meaning they allow persons to engage in certain transactions involving the United States or U.S. persons… Read more

9. What does OFAC mean when it refers to "blocked" property? How does OFAC define “property”?

9 … "Blocking" refers to freezing assets or other property. Blocking immediately imposes an across-the-board prohibition against transfers or dealings of any kind with regard to the property. OFAC authorities may require U.S. persons to block all property and interests in property of certain… Read more

Frequently Asked Questions

Office of Terrorism and Financial Intelligence