OFAC Strongly Encourages Companies to Develop and Implement an Effective Sanctions Compliance Program
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Categories: Regulatory
On May 2, 2019 US Department of Treasury’s Office of Foreign Assets Control (OFAC) published “A Framework for OFAC Compliance Commitments” (the Framework), which provides a specific outline of what OFAC considers to be essential elements of an effective sanctions compliance program. Crypto businesses should consider the applicability of the Framework to their products.
Read our full alert here.
Tags: Anti-Money Laundering, OFAC, Sanctions Compliance Program (SHP), Weapons of Mass Destruction Proliferators Sanctions Regulations
The Hunton Andrews Kurth Blockchain Blog features opinions and legal analysis as we follow the development and use of distributed ledger technology known as the blockchain.
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