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Office of Foreign Assets Control Risk Assessment

On Demand Course
Instructor: Oliver Krischik

Duration:

What You'll Learn

On May 2, 2019, the Office of Foreign Assets Control (OFAC) released new guidance stating that holistic sanctions risk assessments must be a part of a company’s Sanctions Compliance Program (SCP) for the SCP to qualify as a mitigating factor in enforcement decisions. These risk assessments require banks and businesses to understand how individual departments and product lines might be exposed to sanctions risk, how to identify high-risk transactions and parties, and which of these risks can be addressed with appropriate controls. Yet, many banks and businesses continue to rely on processes that do not reflect the diverse range of sanctions programs and measures in place today.

About the Author:

Oliver Krischik
Oliver Krischik
Partner, GKG Law, P.C. Practice areas include data privacy, OFAC economic sanctions, export controls, anti-money laundering, transportation, trade and logistics, international trade compliance, banking and financial fraud, and trade and professional associations Currently advises all GKG Law attorneys on data privacy and sanctions issues pertaining to various practices at the firm Super Lawyers Rising Star, Top Rated Administrative Law Attorney in Washington, D.C. and Best Lawyers Ones to Watch in Washington, D.C. Transportation Law Often quoted in national publications, including The New York Times, on areas related to his practice areas Featured speaker on webinar and seminar topics, including data privacy, international trade, transportation, and issues surrounding sanctions and immigration Published author on a range of legal issues, including data privacy, OFAC sanctions, federal financial regulations, export controls, and transportation Served as co-chair of the Economic Sanctions Practice Group at a mid-size firm prior to joining GKG Law, P.C. American Bar Association Section of International Law’s Export Controls and Economic Sanctions Committee and Steering Group Member Admissions: Virginia and the District of Columbia J.D. degree, Georgetown University Law Center Can be contacted at okrischik@gkglaw.com or 202-342-5266

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