OFAC

Q. What is included in an OFAC check? I know we should be checking for the name/business of who we… Read More

Q. In your experience, what is the standard timing to OFAC screen a vendor once they have been set… Read More

Q. I checked a TIN, and the Name/TIN combination matched the IRS records, but the search returned… Read More

Q. If we periodically run supplier reports against the OFAC list, how long should we keep the file… Read More

If you haven’t heard of OFAC and don’t know what the SDN list is, your company could find itself facing significant fines. The Office of Foreign Assets Control is an agency of the U.S. Treasury… Read More

By Pam Miller, APMD One way to remember the Foreign Corrupt Practices Act of 1977 (FCPA) is that it rhymes with SPCA—the organization that takes care of strays. Interestingly, the FCPA also takes

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Question: What do the following have in common - American Tune Up, First Ocean Administration GMBH, FMF General Trading LLC., Logistic Smart Limited, Pentane Chemistry Industries, Pearl Energy… Read More

Paying the wrong person or business can land your organization in hot water. While all U.S. payees are required to check their vendors against lists such as the Office of Foreign Assets Control's SDN

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A key provision of the Foreign Corrupt Practices Act could be undone by the U.S. Court of Appeals. The judge must determine whether bribes paid to employees of government-owned businesses are illegal

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Following a public comment period where businesses expressed concerns about the severity of penalties, the Department of Treasury Office of Foreign Assets Control issued its final rule on the

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