Which persons must always comply with all Office of Foreign Assets Control (OFAC) regulations? (Select Three.)

The correct answer is A. U.S. citizens regardless of location. D. U.S.-incorporated entities and their foreign branches. E. Permanent U.S. resident aliens regardless of location. OFAC sanctions apply extraterritorially to ensure U.S. financial and economic interests are Option A (Correct): U.S. citizens must comply with OFAC sanctions regardless of where they are Option D (Correct): U.S.-incorporated entities and their foreign branches are required to…

Compliance Standards (International AML/CFT Standards and the role of FATF)

Question

Options

AU.S. citizens regardless of location.
BNon-U.S. financial institutions that offer accounts in USD regardless of location.
CMerchants that offer U.S.-origin goods for sale regardless of location.
DU.S.-incorporated entities and their foreign branches.
EPermanent U.S. resident aliens regardless of location.

How the community answered

(35 responses)

A
71% (25)
B
17% (6)
C
11% (4)

Explanation

OFAC sanctions apply extraterritorially to ensure U.S. financial and economic interests are Option A (Correct): U.S. citizens must comply with OFAC sanctions regardless of where they are Option D (Correct): U.S.-incorporated entities and their foreign branches are required to follow OFAC restrictions. Option E (Correct): Permanent U.S. resident aliens are subject to OFAC compliance even outside

Topics

#OFAC jurisdiction#US persons#sanctions compliance#extraterritorial reach

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