OFAC - Global Intelligence Blog

Huawei Ban, U.S. Sanctions – What this Means for American Ecommerce

Melissa Team | Digital Identity Verification, Ecommerce, eIDV, EIV, Global ID Verification, Personator, Personator World | American Ecommerce, Digital Identity Verification, ecommerce, ecommerce solutions, eIDV, identity recognition, identity resolution, identity verification, OFAC, Personator, personator world, Personator WS, Watchlist, watchlist screening

The Trump Administration has brought U.S. economic sanctions back into the public spotlight. Since placing Huawei, the world’s second largest smartphone maker, on the U.S. entity list, the Trump Administration has threatened more economic sanctions to countries and organizations throughout the world. The White House continues to tighten sanctions on Iran, threatens Turkey and warns European organization, Instex, with new sanctions.… Read More

OFAC and KYC Loom Large for Financial Institutions

Melissa Team | Digital Identity Verification, eIDV, FinTech, Global ID Verification, Personator, Personator World | AML, Anti Money Laundering, anti-fraud, Banking, Digital Identity Verification, eIDV, Financial institutions, Fintech, global ID verification, ID verification, know your customer, KYC, OFAC, Personator, personator world, Personator WS, RegTech

In the alphabet soup of government agencies, OFAC looms large for financial institutions.

Sometimes considered one of “the most powerful yet unknown” government agencies, the Office of Foreign Assets Control—a part of the Treasury Department—enforces economic and trade sanctions in support of U.S. national security and foreign policy.

Simply put, many bad actors attempt to realize their plans via financial means, including fraud, theft, banned commercial trading, or the funding of terrorism.… Read More