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3/19/2020

OFAC Issues a Framework for Compliance Commitments | U.S. Department of the Treasury

OFAC Issues a Framework for Compliance Commitments
May 2, 2019

Washington – Today, the Department of the Treasury’s O ice of Foreign Assets Control (OFAC) is
publishing A Framework for OFAC Compliance Commitments

in order to provide

organizations subject to U.S. jurisdiction, as well as foreign entities that conduct business in or
with the United States or U.S. persons, or that use U.S.-origin goods or services, with OFAC’s
perspective on the essential components of a sanctions compliance program.
“As the United States continues to enhance our sanctions programs, ensuring that the private
sector implements strong and e ective compliance programs that protect the U.S. financial
system from abuse is a key part of our strategy,” said Sigal P. Mandelker, Under Secretary for
Terrorism and Financial Intelligence.
“OFAC developed this framework in our continuing e ort to strengthen sanctions compliance
practices across the board,” said Andrea M. Gacki, Director of the O ice of Foreign Assets
Control. “This underlines our commitment to engage with the private sector to further promote
understanding of, and compliance with, sanctions requirements.”
The document

also outlines how OFAC may incorporate these components into its

evaluation of apparent violations and resolution of investigations resulting in settlements.
Finally, the document

includes an appendix that o ers a brief analysis of some of the root

causes of apparent violations of U.S. economic and trade sanctions programs OFAC has
identified during its investigative process.
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https://home.treasury.gov/news/press-releases/sm680

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