OFAC Enforcements 2023 – An analytical view with key takeaways
Key Takeaways from OFAC’s 2023 Enforcement Actions
The Office of Foreign Assets Control (OFAC) is renowned worldwide for the substantial fines and penalties it imposes on companies that violate U.S. economic sanctions programs. The risk of OFAC enforcement serves as a powerful incentive for sanctions compliance.
In recent years, OFAC received additional budget and resources to fulfil its mandates, particularly for the civil enforcement of sanctions violations. The landmark OFAC settlements of 2023 underscored OFAC’s commitment to aggressive sanctions enforcement, a trend expected to continue into 2024.
In this ebook, we take an in-depth look at OFAC enforcements throughout 2023 and provide our analysis on what these enforcement actions may mean for financial institutions, virtual currency firms, and other organizations moving forward.
As part of our Sanctions Pulse series, this special report on OFAC enforcement complements our broader analysis of global sanctions activity. By understanding the nuances of OFAC’s enforcement priorities, compliance professionals can better prepare for the challenges ahead and ensure robust compliance programs.
Ensure your business is well-informed and compliant with the latest enforcement trends and sanctions insights.
Complete the form to download your copy of the OFAC 2023 Enforcement ebook and stay ahead of regulatory changes.
For further insights and detailed analysis, explore our Sanctions Pulse series, providing a visual breakdown of key sanctions and watchlist updates from the past year.
Complete the form to download the ebook
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