OFAC (Office of Foreign Assets Control) Definition
The Office of Foreign Assets Control (OFAC) is a financial intelligence and enforcement agency within the U.S. Department of the Treasury responsible for admini
The Office of Foreign Assets Control (OFAC) is a financial intelligence and enforcement agency within the U.S. Department of the Treasury responsible for administering and enforcing U.S. economic and trade sanctions programs to achieve U.S. foreign policy and national security goals. OFAC's primary function is to prevent targeted individuals, entities, and countries from accessing the U.S. financial system by blocking assets and prohibiting transactions, thereby protecting the nation's security and economy.