The Paypers

FEBRUARY 25, 2022

US-based Office of Foreign Assets Control (OFAC) has expanded sanctions against Russia through blocking two state-owned financial institutions and restricting sovereign debt.

OFAC 74

OFAC Blocks 74

The Paypers

AUGUST 22, 2019

(The Paypers) The US Treasury Department’s Office of Foreign Assets Control (OFAC) has sanctioned three Chinese nationals and their cryptocurrency addresses.

Treasury 28

Treasury Addressing OFAC Blocks 28

PYMNTS

MARCH 17, 2016

The issue does not seem to be that MasterCard actually failed to block either Bank Melli or Bank Saderat. However, MasterCard did fail to report the accounts as blocked, which is required, the Treasury’s Office of Foreign Assets Control (OFAC) said in a statement on Wednesday (March 16) on its website. ”

Treasury 40

Treasury Visa OFAC Blocks 40

The Fintech Times

JULY 24, 2024

Banks have a difficult choice between TCH’s RTP network and the new kid on the block, FedNow. “Despite these challenges, US financial institutions will likely ultimately push to adopt FedNow in order to stay relevant, competitive, and to meet and exceed customer expectations at their own pace, versus one being required by regulation.”

FedNow 59

FedNow Instant Payments RTP Federal Reserve 59

Payment Savvy

FEBRUARY 23, 2023

This code is your key to fixing or at least identifying what has blocked the transaction. Whenever there is an issue with a direct debit or credit card transaction, one of the parties involved in the payment processing will send a code. types incorrectly, out of sequence, etc.)

ACH 52

ACH Returns RDFI ODFI 52

PYMNTS

JANUARY 1, 2021

Among the changes, according to the government, are that BitGo hired a chief compliance officer and "screens all accounts, including 'hot wallet' accounts, against (the Office of Foreign Asset Control's) Specially Designated Nationals and Blocked Persons List, including blocked cryptocurrency wallet addresses identified by OFAC.".

Bitcoin 80

Bitcoin Cryptocurrency OFAC Treasury 80

Seon

SEPTEMBER 14, 2023

Other regions sanctioned by OFAC include: Balkans Belarus Burma Central African Republic Ethiopia Iraq Lebanon Venezuela Yemen Zimbabwe Organizations may have their own list of high-risk countries. However, the rules set by the Office of Foreign Assets Control (based in the US) tend to be followed by most countries around the world.

Risk 52

Risk Money Laundering Suspicious Activity Report (SAR) AML 52