OFAC Essentials Certificate Course Self Paced
In order to meet the need for more in-depth training on OFAC Essentials and mitigate the risk of costly sanctions violations, we have developed a compressed version of our ever popular OFAC Essentials Online Certificate Course
Target audience
OFAC/Sanctions Compliance Officers
OFAC Analysts
OFAC investigators
General Counsels
OFAC Compliance Managers
OFAC Testing Analysts
What is it?
The OFAC Essentials Certificate Program is a 4-module course, consisting of approximately 4 training hours. The course is delivered in an online format. You have 90 days to complete the course after you get assigned to it.
Self-paced e-learning course
Self-paced e-learning course
Self-paced e-learning course
Final Assessment
What Participants will get
At the end of 4 weeks, participants who successfully completed the program receive:
Certificate of Completion: Upon passing the assessment, participants will receive an electronic Certificate which denotes the completion of the course.
Credit hours (we will apply for CE credits)
4 ACSS Credits (you must complete the whole course)
System Requirements
You only need a browser to access the course. We recommend the Chrome Browser.
Investment
ACSS Members
$395 Only $245
Special Offer – You save $150
Non-ACSS Members
$495
Regular Price
If you have multiple team members who can benefit from this program or wish to talk about enterprise packages, please contact for pricing and more information: helpdesk@sanctionsassociation.org
How it is structured?
MODULE 1: Introduction to OFAC
A self-paced e-learning course on the ACSS Learning Management System (LMS), which covers OFAC Essentials and Background:
- What is OFAC and mission
- History
- OFAC sanctions and their objectives
- Different types of OFAC sanctions regimes
- Who must comply?
- Fines
- “OFAC online” – Where to find things on the OFAC website
MODULE 2: Legal Authority and How OFAC Works
A Walking Tour Through main OFAC legal authorities
- IEEPA – what is it, when enacted, where to be found, what does it do?
- TWEA – what is it, when enacted, where to be found, what does it do?
- Anti-Terrorism and Effective Death Penalty Act, Foreign Narcotics Kingpin Designation Act others
- Presidential Executive Orders
- OFAC Regulations codified at 31 CFR Ch V–main clauses
- Short Exercise/case study/Practice questions
Categories, Principles and Core ConceptsUsed Throughout Sanctions Regimes Administered by OFAC
- Categories: Comprehensive, vs limited, country regimes, list-based regimes, sectoral, extraterritorial, and other categories of regimes. Provide examples.
- High level principles and core concepts or core prohibitions under Main OFAC administered Sanctions Regimes.
- Important concepts or terms used throughout a number of OFAC administered sanctions programs (e.g. facilitation)
- Short Exercise/case study/Practice questions
Overview of OFAC Organizational structure – who does what?
- Sanctions Policymaking &Coordination
- OFAC Compliance – how does OFAC assist with compliance efforts?
- OFAC Licensing Department – How does this department work?
- OFAC Global Targeting& Investigations
- Short Exercise/case study/Practice questions
MODULE 3: OFAC Risk Management and Enforcement
A self-paced e-learning course on the ACSS Learning Management System (LMS), which covers OFAC sanctions risk management.
Recognizing OFAC Sanctions Risks: Sound OFAC Risk Assessment
- Inherent and residual risk.
- How to structure a sound risk assessment and calculate risks?
OFAC Compliance Program – Control Basics
- OFAC Policy: What should it contain?
- Designated persons, prohibitions
- OFAC Training: Who, what, where, when and why?
- OFAC Independent Review
- Short Exercise/case study/Practice questions
Customer Due Diligence and Screening
- Prohibited Transactions
- Due Diligence and how the 50% rule works
- List matching/screening and assessing OFAC name matches
- Voluntary disclosures: how to go about it?
- Blocking and Rejecting and Reporting to OFAC
- Releasing blocked funds
- Short exercise /case study/Practice questions
OFAC Reporting Requirements
- Report of Blocked and Rejected Transactions Form: Form to Use, How to Fill Out?
- Annual Report of Blocked Property Form
- Short Exercise/case study/Practice questions
OFAC Licenses
- When you need a license
- How to apply, forms to use? Where to submit
- How long does it take?
- Best practices and helpful tips
OFAC Enforcement:
- OFAC Enforcement Guidelines
- OFAC’s Administrative Subpoena (31 C.F.R. § 501.602): Process and Response.
- Consequences of non-compliance: Penalties, and other types of actions
- Interaction with other agencies
- Short exercise/case study/practice questions
MODULE 4: Final Assessment
Online Quiz: This is a multiple question quiz in multiple choice format. <br>
Passing Grade: 80%
