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Sanctions Screening vs OFAC Screening
United Nations (UN) European Union (EU) United Kingdom (UK) Source Resolutions of the UN Security Council (UNSC) Decisions of the EU Council, implemented through EU Regulations, which have direct effect in all 27 member states. After Brexit, the United Kingdom introduced its own autonomous sanctions regime, administered by the Office of Financial Sanctions Implementation (OFSI) […]
FinCEN and OFAC: what is the difference between a financial crime advisory and sanctions?
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OFAC License or Clearance: What Your Business Needs to Work with U.S. Sanctions
Criterion OFAC Licence OFAC Clearance Goal Permission for a specific operation. Complete removal of sanction restrictions. Result Temporary permission for a prohibited action. Exclusion from the sanctions list (delisting). Legal consequences Sanctions against the individual remain in force. Sanctions are completely lifted. Who is it suitable for For those who want to make a deal […]
