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Is That Customer on the “Naughty” List? Check With OFAC To Find Out

Is That Customer on the “Naughty” List? Check With OFAC To Find Out

OFAC lists companies from targeted countries, involved with terrorism or narcotics trafficking. Are your customers on the naughty list?

Who:

The Office of Foreign Assets Control (OFAC) is an office of the United States Department of the Treasury.

What:

OFAC administers and enforces economic and trade sanction programs against targeted foreign countries, terrorists, and drug traffickers, and other threats to the United States’ foreign policy interests.

How:

OFAC keeps a list, the Specially Designated Nationals (SDN) List, of individuals and companies from targeted countries or that are involved with terrorism and narcotics trafficking. Before you make a sale at your dealership, OFAC requires you to check that the OFAC SDN list your customer’s names are not on that list. Their assets are blocked and U.S. persons are generally prohibited from dealing with them. We’ve put together an OFAC Workflow so you know what to check and what happens if you find a match.

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About the Author

Toby Graham

Toby manages the marketing communications team here at KPA. She's on a quest to help people tell clear, fun stories that their audience can relate to. She's a HUGE sugar junkie...and usually starts wandering the halls looking for cookies around 3pm daily.
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