OFAC Boot Camp

Gain an in-depth understanding of U.S. economic sanctions and learn how to pass the test of OFAC scrutiny

Complying with the Office of Foreign Assets Control’s (OFAC) regulations has never been more complex or pressing. New Iranian sanctions, more aggressive enforcement, greater penalty amounts, and higher compliance standards make OFAC compliance a top priority for any company or financial institution with foreign clients or suppliers. High profile settlements continue to serve as a harsh reminder of the cost of non-compliance and emphasize the government’s resolve to aggressively enforce sanctions regulations. At the same time, new Iranian sanctions substantially expand the extraterritorial scope of U.S. sanctions, and are likely to significantly impact the international corporate and banking community.

Developing and implementing a risk-based sanctions compliance and screening program, and conducting ongoing proactive reviews to test its effectiveness, is imperative as enforcement becomes even more aggressive and penalties continue to rise. With the expansion of activities and persons subject to sanctions, more restrictions on financial institutions, and unprecedented reputational and regulatory pressures on all international organizations, global entities must take extra care to detect and prevent sanctions violations before they result in severe consequences.

Held for the first time in New York, American Conference Institute’s inaugural OFAC Boot Camp will provide you with a comprehensive knowledge of U.S. economic sanctions laws and the tools you need to implement an effective sanctions compliance program and evaluate its adequacy. Through an expert faculty of senior industry executives, government officials and outside counsel, you will gain a foundation for dealing with day-to-day sanctions compliance issues. Topics will include:

• New Iranian sanctions and how they affect correspondent relationships
• Core components of a risk-based sanctions compliance program
• How OFAC examines compliance and evaluates adequacy of programs
• What recent cases and penalty levels reveal about OFAC’s priorities and enforcement approach
• How voluntary disclosures impact penalty amounts
• Assessing and testing effectiveness of screening procedures

Only this event can fully prepare you for greater sanctions enforcement and higher compliance standards. Whether you are new to the area or just need a comprehensive refresher, this practical and interactive OFAC Boot Camp will provide you with the knowledge you need to detect and prevent sanctions violations.