OFAC ESSENTIALS: HOW US SANCTIONS IMPACT COMPANIES IN THE GCC AND WHAT YOU NEED TO DO TO PROTECT YOUR COMPANY FROM PENALTIES

March 7, 2017 9:15am

Carlton Morris
Sanctions Compliance Officer
OFAC (USA)

Ibtissem Lassoued
Partner
Al Tamimi (UAE)

Stephan Becker
Partner
Pillsbury (USA)

  • Reality of the US sanctions regime; who it applies to, when it applies and what are the obligations on foreign based companies
    • Types of US economic sanctions
  • What to expect from an OFAC investigation
    • What triggers an investigation?
    • Common checks OFAC makes on companies
  • ‘US Person’ under OFAC: what constitutes and US person, what are they allowed to do in relation to Iran and what activities are prohibited
    • How can you prevent US persons involvement in transactions with Iran
  • Key checks to put in place to ensure sanction violations don’t slip through the cracks