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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 self-paced e-learning course on the ACSS Learning Management System (LMS), which covers 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%