A Guide to OFAC Training and Certifications

Business Blog

If you are trying to get a handle on your banking and finance, there are always some compliance issues that come with the territory. You'll need to stay on the right side of the law and see to it that you are following regulations that keep your banking needs up to par. This means looking into the Office of Foreign Assets Control (OFAC) training that will teach you all about these regulations and how to stay certified. 

Consider these points and don't hesitate to touch base with some professionals that can assist you. 

Look into OFAC training and why it is worthwhile

In order to manage your financial institution and ensure that your employees are working within the letter of the law, OFAC training will become a necessity. Make this coursework mandatory and look into the modules that will get everyone in your company up to speed. By taking part in this training coursework, you will be able to learn about everything from general OFAC regulations, trade sanctions, and United States Treasury laws and practices. 

There are a number of different ways that you can get certified, including online modules and in-person coursework with a company that provides this service. By touching base with some pros that can assist you with this training, you can count on the fact that you and your entire company will remain up to speed and able to address your financial concerns as they come about. 

Remain in compliance and avoid penalties whenever possible

In addition to OFAC training, you'll need to maintain your compliance over the years and make sure that you avoid penalties. This governing body has been around since the War of 1812, and they constantly run audits to make sure that companies are in compliance. In a single year, the organization issued audits totaling more than $1.2 billion across different organizations. 

The more you are trained, the easier it will be for you to steer clear of the penalties that come with the territory. Be sure that your entire company remains in compliance, and that you are consistently making changes in practice and transparency that will help you manage the regulations that come with the territory. 

When you start with quality training and passing compliance examinations, you will be in a better position to manage your company. Follow these steps and start looking into the OFAC training program that you need. 


24 January 2020

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