OFAC Compliance Counseling

Compliance Counseling - Thorough and Discreet Advice

The OFAC Lawyers at Sanctions Law Center offer discreet counseling to help your organization ensure sanctions compliance and mitigate potential risks. Whether your organization is undergoing internal audits, external inquiries, or simply seeking to assess the possible implications of a sanctions regime on your operations, our OFAC lawyers can provide you with compliance counseling and get your questions answered.

Do I need OFAC compliance counseling?

Compliance counseling is a way for you to understand how regulations from the Office of Foreign Assets Control (OFAC) apply to your organization and what steps you should take to avoid exposure to sanctions liability. Our OFAC Lawyers can help you determine the type of compliance program you need to comply with OFAC regulations and operate with confidence.

The enforcement of sanctions regulations relies on the effective disruption of any transactions or property interests involving a sanctioned party or territory. Unfortunately, enforcement ambiguities and the strict liability of sanctions violations means that many well-meaning businesses also get caught up in OFAC-related compliance issues. Staying informed on the implications of sanctions regulations on your business operations could be what saves you from losing access to large sums of money, as well as the embarrassment of being subject to enforcement actions.

The OFAC Lawyers at Sanctions Law Center provide thorough counseling and break down the rules that apply specifically to your business or potential transaction. Our OFAC sanctions attorneys have experience dealing with OFAC on behalf of businesses and nonprofits involved in a variety of spaces. You will benefit from compliance counseling if you have questions or concerns about:

• A territory you might operate in;
• Onboarding new counterparties, vendors, and clients;
• New OFAC sanctions designations;
• What OFAC licenses might apply to your operations; or
• Your business partner/client/counterparty’s designation to the SDN List;

Businesses often err on the side of overcompliance with OFAC regulations to avoid any possible sanctions risks, or instead fail to consider the severity of the consequences of noncompliance. Too much rigidity often limits operations and growth potential, but a failure to incorporate an adequate compliance program or exercise proper due diligence can lead to severe penalties. OFAC considers inadequate compliance programs or due diligence to be aggravating factors when determining penalties for sanctions violations.

At Sanctions Law Center, we believe that your business is best served by finding a healthy balance between these two extremes. Our OFAC Lawyers will provide you with an in-depth understanding of how U.S. sanctions apply to your operations. This way, we can narrowly-tailor a compliance program that suits your needs.

Risk and Compliance Assessment

When helping develop your compliance program, our OFAC sanctions lawyers will review your organization’s internal structure, operations, and transactions.

The scope of the review includes, but is not limited to:

• Your current compliance polices and programs;
• Reporting mechanisms;
• Customer relationships;
• Transactions; and
• The geographic exposure of your operations.

This assessment helps the OFAC Lawyers at Sanctions Law Center to identify areas where compliance issues may arise, understand how your organization currently addresses potential risks, and where improvements can be made. This way, our team can provide you the best advice possible for your exact needs.

A sanctions compliance analysis is essential to understanding your current risk level. A compliance analysis provides our sanctions attorneys with an understanding of how your organization currently addresses risks and how it could run into them. Our attorneys compare your current practices against industry-specific standards to align your operations with OFAC regulations. Our team may also conduct interviews with your management and staff for a more thorough review and analysis. Any gaps identified will be tackled through additional recommendations. This step provides a roadmap for enhancing your compliance framework.

Crafting a compliance program for your business

Based on our findings from the risk assessment and compliance analysis, the OFAC Lawyers at Sanctions Law Center will assist your organization in developing and implementing a comprehensive compliance program. With a uniquely tailored sanctions compliance program, your organization will have the tools to avert and respond to sanctions risk exposure. This includes drafting your compliance policy and recommending internal training, reporting mechanisms, and crisis management procedures.

Navigating the complexities of sanctions compliance requires expertise, vigilance, and a proactive approach. At Sanctions Law Center, our Compliance Counseling services are designed to support organizations in developing effective strategies for managing sanctions risks.