Department of the Treasury· Rule
Reporting, Procedures and Penalties
effective in 180d
SUMMARY: The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing this interim final rule to amend the Reporting, Procedures and Penalties Regulations (the “Regulations”), extending recordkeeping requirements for certain transactions from five to 10 years, consistent with the statute of…
Owner check — Sanctions/trade action: re-screen vendors, customers, owners, and foreign counterparties before transactions.