Bank Secrecy Act for Frontline Employees: 05. Office of Foreign Assets Control
3 min! Run Time
Employees
only
Provided
What you'll learn
Skills covered in this course
Description
The Office of Foreign Assets Control (OFAC), part of the Treasury Department, administers and enforces economic sanctions against countries, terrorists, and traffickers.
What this course covers:
- What OFAC is and the sanctions programs it enforces
- How economic sanctions affect who you can do business with
- Screening against the Specially Designated Nationals (SDN) List
- What to do when a flagged individual tries to bank with you
Ideal for frontline banking staff responsible for sanctions screening.
System Requirements
See System Requirements in the Coggno Knowledge Base
Author
Frequently Asked Questions
The course explains that OFAC, part of the Treasury Department, administers and enforces economic sanctions against countries, terrorists, and traffickers, giving frontline staff the background needed to understand why sanctions screening matters at account opening.
This module covers how economic sanctions affect who you can do business with, connecting OFAC's role to everyday decisions about customers so tellers understand the sanctions program is more than a background concept they rarely think about.
The course covers screening against the Specially Designated Nationals, or SDN, List, describing the screening process staff use to check for sanctioned individuals before completing a transaction or opening a new account for a customer.
Learners are shown what to do when a flagged individual tries to bank with you, giving a direct action step tied to sanctions screening rather than leaving frontline staff to guess how the situation should be handled.
This course is built for frontline banking staff responsible for sanctions screening as part of account opening and daily transactions, complementing the CIP course earlier in the series on verifying customer identity before an account is finalized.
