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#727683 - 05/07/07 06:08 PM Current Blocking Profiles OFAC
Lele Offline
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Lele
Joined: Feb 2007
Posts: 827
In the Sun
I am trying to decipher what countries I need to have in our OFAC policy that have to be blocked. I pulled the BOL list updated 1/07 but am not clear on which ones need to be in policy. We have of course Cuba and N. Korea. We have Iraq but says 'all transactions previously prohibited are now authorized, with certain exception". Does this mean take Iraq off the list? The list mentions Belarus as of 6/19/06. Does this mean add them? We have the policy broken down by individuals, commercial and governmental. What is everyone using?
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#727857 - 05/07/07 08:57 PM Re: Current Blocking Profiles OFAC Lele
Damon Offline
Member
Joined: May 2007
Posts: 83
Texas
I went directly to the US Treasury's OFAC site and used the sanctions matrix to create a "Deny List" in our interdiction software. This kicks out these results and requires Enhanced Due Diligence prior to creating a given transaction.

There is also a sanctions matrix on the OFAC page on this site that is pretty easy to ready. Much easier then OFACs in my opinion.
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