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Course description

New and changing OFAC sanction programs and compliance requirements continue to pose increased challenges for all compliance officers. OFAC's programs are more exacting, its influence is greater, penalties are higher and its regulatory reach continues to grow wider.

This fast-paced 2-hour webinar will provide both the new compliance professional and the seasoned OFAC practitioner with the most current information on OFAC compliance issues.   Beginning with a foundation on sanction compliance fundamentals and then ramp up to explain in detail specifically what has changed in the OFAC Sanctions arena this past year and how these changes may impact your institution’s OFAC program. 


Tim will provide insight and tips on utilizing the recent guidance documents from OFAC and FinCEN, including how to align your institution’s program with “A Framework for OFAC Compliance Commitments”.  Tim's presentation will also emphasis best practices for updating and testing your OFAC program in this fast-changing compliance arena, and how to address the hot spots that hold the greatest risk for regulatory criticism and OFAC violations for financial institutions of all sizes. These tips and best practices for reducing inherent OFAC risk will enable attendees to take immediate steps to determine what approaches might be the most efficient, economical and best suited for their institutions' OFAC programs.

This presentation will review the 4 newest OFAC sanction programs; CAPTA, CAR, Hong Kong and ICCP along with the recent changes in the Iranian, Venezuelan, North Korean, Russian and Cuban programs.  The Venezuelan sanctions and the Sectorial Sanction Identification List (SSI) are far more complex than any previous OFAC programs. 


Considering all the new developments in the OFAC compliance arena, it's easy for something to slip through the cracks. This program will help provide the peace of mind you need to prepare for your next BSA-OFAC exam.


Webinar Objectives & Program Highlights:  

  • Why OFAC compliance is so challenging and how to understand it.
  • Understanding regulatory risk and the risk of an actual OFAC violation and the difference between the two.
  • Understanding the factors that influence and reduce your institution's inherent OFAC risk
  • Regulatory hot spots that hold the greatest risk for regulatory criticism and violations 
  • OFAC fundamentals, what is the nomenclature of OFAC compliance; (Sectoral Sanctions, Secondary Sanctions, SDNs, blocking, rejecting, etcetera, etcetera).
  • Communicating risk-based OFAC policies, monitoring practices and testing to your examiners
  • Why OFAC's sanctions are becoming a more important element in BSA exams
  • A straightforward brief on the major OFAC sanction programs. 


Tim White

Timothy R. White, CAMS is Special Advisor, Sanctions Specialist for AML RightSource. Has licensed AML and Sanctions Interdiction Software to over 1400 financial institutions. • Expert on OFAC/Sanctions issues and has addressed OFAC and BSA issues at conferences throughout the United States and internationally including BOL “BSA Top Gun”, ABA, ACAMS and many state banking association conferences. • Has published articles in; o ACAMS Today o ABA Bank Compliance Magazine o Western Banking Magazine • Member - ACAMS' Certification Exam Taskforce in 2010 and 2016. • 2007 - Member, working group formed by the United Nation's Al-Qaida Taliban Sanctions monitoring team pursuant UNSCR 1735 • 2006 - Addressed an EU-US Workshop on Financial Sanctions and Terrorist Financing in Vienna, Austria. • Provided training for the; OCC - Office of the Comptroller Currency and Federal Reserve Bank's BSA/AML specialists on OFAC and BSA compliance technologies. • 2004 - Member, ABA's BSA - OFAC Working Group on OFAC Examination Procedures • 2002 advised the FBI on interdiction software technologies • Chairperson 2012-2018 - West Coast AML Forum in San Francisco • Active certified member of ACAMS first graduating class. • Advisory Board Member 2019 - West Coast AML Forum in San Francisco • Member of the ACAMS Certified Global Sanctions Specialist Taskforce (CGSS) in 2019

Course curriculum

  • 1


    • Access Webinar

  • 2


    • Slides

    • Questions and Answers


4 star rating

BSA/OFAC Officer

Desiree Perkins

Very complex webinar. alot of information to be absorbed. Where can you get a copy of the OFAC guidelines?

Very complex webinar. alot of information to be absorbed. Where can you get a copy of the OFAC guidelines?

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