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A Provider of AIB Products Office of Foreign Asset Control (OFAC) |
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Course Description: Office of Foreign Assets Control (OFAC) provides key information relative to OFAC laws and regulations that are part of bank employees' daily responsibilities. This course explains the overall purpose and background of OFAC. It provides the purpose and use of the sanctions lists, as well as the general guidelines for handling matched names and blocked funds. Audience: Bank personnel who have deposit or lending responsibilities. Learning Objectives: After successfully completing this program, you will be able to: • Explain the background of OFAC and the purpose of economic and trade sanctions • Describe the purpose and use of OFAC’s sanctions lists including the Specially Designated Nationals and Blocked Persons List • Understand who must comply with OFAC regulations • Describe how to handle a matched name • Appreciate the penalties for non-compliance • Describe how to handle a matched name • Describe how to handle blocked or rejected transactions • Identify reports that must be made to the United States Treasury Course Credits: AIB: 0 ; ICB: 0.5 CCSR, CPB, CCTS, CFSSP, CLBB, CSOP Prerequisites: None Required Software: None Optional Software: Adobe Acrobat Reader and RealPlayer Cost: Members $55 • NonMembers $75 PBA Contact: Jackie Catalano • (717) 255-6939 • jCatalano@paBanker.com |
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