CAMS Question #81: Real Exam Question with Answer & Explanation

The correct answer is B. Transactions are processed by a U.S. person. 'Who must comply with OFAC regulations? U.S. persons must comply with OFAC regulations, including all U.S. citizens and permanent resident aliens regardless of where they are located, all persons and entities within the United States, all U.S. incorporated entities and their fore

Question

What must be materially true regarding transactions for United States (U.S.) sanctions laws to have jurisdiction?

Options

ATransactions are traced to illegal proceeds
BTransactions are processed by a U.S. person
CTransactions are stripped of beneficial owner information
DTransactions are identified as proceeds of foreign corruption

Explanation

'Who must comply with OFAC regulations? U.S. persons must comply with OFAC regulations, including all U.S. citizens and permanent resident aliens regardless of where they are located, all persons and entities within the United States, all U.S. incorporated entities and their foreign branches. In the cases of certain programs, foreign subsidiaries owned or controlled by U.S. companies also must comply. Certain programs also require foreign persons in possession of U.S.-origin goods.

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