ACAMS
CAMS · Question #964
Which of the following statements is true regarding Office of Foreign Assets Control (OFAC) sanctions? (Select Two.)
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Compliance Standards (International AML/CFT Standards and the role of FATF)
Question
Which of the following statements is true regarding Office of Foreign Assets Control (OFAC) sanctions? (Select Two.)
Options
- ASanctions can only be placed on certain individuals in foreign countries as designated by OFAC
- BBlocked funds must be placed into an interest-bearing account on a financial institution's books
- CSanctions can be either comprehensive or selective using the blocking of assets and trade
- DOFAC sanctions automatically expire after five years unless renewed by Congress
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Topics
#OFAC sanctions#blocked funds#comprehensive sanctions#asset freezing