Alert! OFAC Changes

Alert! OFAC Changes

Alert! OFAC Changes
Thursday, September 12, 2019 
2:30 pm – 4:30 pm Eastern



The Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an interim final rule to amend the Reporting, Procedures and Penalties Regulations (the Regulations) to provide updated instructions and incorporate new requirements for parties filing reports on blocked property, unblocked property, or rejected transactions. In addition, OFAC is revising the licensing procedures section of the Regulations to include information regarding OFAC’s electronic license application procedures and to provide additional instructions regarding applications for the release of blocked funds. OFAC also is clarifying the rules governing the availability of information under the Freedom of Information Act (FOIA) for information that is submitted to OFAC pursuant to the Regulations. Finally, OFAC is making numerous technical and conforming edits throughout the Regulations.

Covered Topics:

  • Revised reports for initial blocking reports
  • Revised annual reports of blocked property
  • New requirement for submitters of annual reports of blocked property who maintain blocked funds in omnibus accounts
  • Revised reports for blocked transactions
  • Clarify the rules regarding the availability of information, under the FOIA
  • Revised forms for rejected transactions
  • Revised licensing procedures and forms
  • Revised Framework for OFAC compliance

Who Should Attend?

OFAC Officers, OFAC Staff, Compliance, IT Staff, BSA Personnel, Operations.

Speaker:

Deborah Crawford

Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 30+ years of combined teaching and banking experience.

Attendance verification for CE credits provided upon request.

Webinar Sponsored by Total Training Solutions

If you are having issues with registering online, please contact CBAO's Education & Training Coordinator, Lianne Simeone, (614) 610-1877.

Registration Options
Live On-Demand Link: Live,On Demand playback, and CD-ROM  plus hard copy Handouts.
Live Webinar: Register for the live event and get five days access to the On Demand Playback. You’ll have an opportunity to ask questions during the presentation and be free to review the content for the next 5 (business) days Registration also includes links to presenter materials, handouts, and pdfs.
Additional Hookups: Registering another banker from a different location
On-Demand Link & "Free" CD-ROM: Both live webinar & recorded webinar + free digital download 
When
9/12/2019 2:30 PM - 4:30 PM

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