Avoiding an OFAC Fine - What Payment Industry Providers Need to Know About OFAC Compliance
International Trade Attorney Antonia Tzinova will present a CSI Webinar titled "Avoiding an OFAC Fine - What Payment Industry Providers Need to Know About OFAC Compliance." The presentation will focus on Money Services Businesses (MSB) OFAC compliance responsibilities.
- general OFAC prohibitions as they relate to MSBs
- screening of transactions and parties to the transaction
- types of documentation and information to support an MSB's decision to process a payment
- reporting requirements for blocked and rejected items
- best practices for compliance.