OFAC Regulations
OFAC regulations have requirements for businesses to identify and freeze the assets of oppressive governments, terrorists, narcotic traffickers and other specially designated persons.
A list of Specially Designated Nationals and Blocked entities (SDN list) is maintained by OFAC. This list identifies individuals and entities that have OFAC restrictions against them.
Transactions involving individuals or entities on the SDN list are prohibited as blocked transactions. Some of the countries and groups that are currently targeted by OFAC include Cuba, North Korea, Libya, Iraq, Iran, Syria, Sudan and the Taliban.