Top Quotes from SWIFT Operations Forum Americas 2013

Seven insights about regulatory compliance from the recent SWIFT Operations Forum Americas.
March 08, 2013


6. OFAC Values Transparency

This is not an adversary situation – we want to work with financial institutions. Our goal is to contact or return messages within 48 hours. Work with OFAC the moment you feel an issue arises – don’t be scared of asking questions that may get [your] institution a subpoena – we value credible information. We focus on transparency – making sure [your efforts] are transparent is very important to OFAC.

--Jeremy Sausser, Compliance Officer, Office of Foreign Assets Control (OFAC), U.S. Department of the Treasury Annex

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