Thursday, April 29, 2010

OFAC Compliance - Not as Easy as it Appears

OFAC compliance is tricky as:

1. Rules and customs vary from country to country, confusing companies entering global operations without adequate requirements preparation.

2. OFAC rules, along with the names on the SDN list, change often;

3. Third-party service providers and their own vendors may end up dealing with those OFAC prohibits.

Jimmy Carter on History of FCPA