Office of Foreign Assets Control (OFAC)
The U.S. Treasury Department administers a series of laws imposing economic sanctions through the Office of Foreign Assets Control (OFAC). These sanctions are intended to further U.S. foreign policy and national security objectives by targeting hostile foreign countries, terrorism sponsoring organizations and international narcotics traffickers.
The laws OFAC administers are: The Trading with the Enemy Act (TWEA), the International Emergency Economic Powers Act (IEEPA), the Iraqi Sanctions Act (ISA), the United Nations Participation Act (UNPA), the International Security and Development Cooperation Act (ISDCA), the Cuban Democracy Act (CDA), the Cuban Liberty and Democratic Solidarity Act (LIBERTAD), the Anti-Terrorism and Effective Death Penalty Act (A-TEDPA) and the Foreign Narcotics Kingpin Designation Act (FNKDA). Compliance with these laws is compulsory for all U.S. citizens and permanent resident aliens, all companies located within the U.S., all overseas branches of U.S. companies and all overseas subsidiaries of U.S. companies.
OFAC maintains a list, known as the SDN List (Specially Designated Nationals and Blocked Persons), of all individuals, companies, countries and foreign governments that have been sanctioned. Financial transactions such as wire transfers, ACH transactions, check processing and currency exchange may not be conducted with anyone on the SDN list.
OFAC is responsible for administering and enforcing these laws, including assessing fines, civil and criminal penalties for violation of OFAC compliance. Fines, criminal and/or civil penalties vary depending on the specific law in violation. If OFAC determines a violation has taken place, they will determine whether to levy civil, criminal or monetary penalties against each of the parties to the transaction. They may take into consideration the extent of the parties OFAC compliance efforts, the comprehensiveness of the OFAC compliance policies and procedures, and the methods with which transactions are monitored for compliance with OFAC laws.
OFAC Confirmation Request
Email completed form to OFAC@tre.wa.gov. Please use ‘OFAC Confirmation Request' in the subject line of the email.
Provide payee's full name, including any nicknames, aliases, previously held names or spelling alterations. If you have questions contact Lesa Williams at (360) 902-8911.