One key aspect of the Office of Foreign Assets Control's extraterritorial reach includes the blocking of certain non-United States initiated transactions for or through the United States (U.S.) for…

Question

Options

• AThe transactions are to, or go through, a blocked entity
• BThose that are by, or on behalf of, a blocked individual or entity
• CThose that are by or on behalf of a blocked individual and a licensed entity
• DThose that are in connection with a transaction in which a blocked individual or entity has an
• EThose that are in connection with a transaction in which a blocked individual or entity has no

• A
  76% (29)
• C
  16% (6)
• E
  8% (3)

Explanation

U.S. law requires that assets and accounts of an OFAC-specified country, entity, or individual be blocked when such property is located in the United States, is held by U.S. individuals or entities, or comes into the possession or control of U.S. individuals or entities. For example, if a funds transfer comes from offshore and is being routed through a U.S. bank to an offshore bank, and there is an OFAC-designated party to the transaction, it must be blocked. The definition of assets and property is broad and is specifically defined within each sanction program. Assets and property includes anything of direct, indirect, present, future, or contingent value (including all types of bank transactions).

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