Which screening lists are owned by OFAC?

Which screening lists are owned by OFAC?

• A. Specially Designated Nationals (SDN) List and Embargoed Country List
• B. DPL, Entity List, and Unverified List
• C. Debarred List and U.S. Arms Embargoes in Effect List and United Nations Sanctioned Persons (Arms Embargo) List
• D. UN Sanctions List and Arms Embargo List

Answer: (A)

The screening lists owned by OFAC are the Specially Designated Nationals (SDN) List and the Embargoed Country List. OFAC, part of the U.S. Treasury, creates and maintains these lists to identify blocked persons and blocked or restricted countries so that U.S. persons know whom they may not transact with. The SDN List lists individuals and entities whose assets are blocked and with whom most transactions are prohibited. The Embargoed Country List identifies countries under comprehensive sanctions, where dealing with any party from that country is generally restricted or prohibited. Screening against both lists is essential for compliance because it helps prevent transactions with sanctioned individuals and with embargoed jurisdictions. The other options mix in lists that are owned or maintained by other agencies or international bodies. Denied Persons List, Entity List, and Unverified List are BIS (Bureau of Industry and Security) lists. Debarred lists and arms embargo-related lists can involve different U.S. or international authorities, or UN-administered sanctions, rather than OFAC's own published lists. While OFAC enforces UN sanctions, the UN Sanctions List and related Arms Embargo lists themselves are not OFAC’s proprietary lists.

The screening lists owned by OFAC are the Specially Designated Nationals (SDN) List and the Embargoed Country List. OFAC, part of the U.S. Treasury, creates and maintains these lists to identify blocked persons and blocked or restricted countries so that U.S. persons know whom they may not transact with. The SDN List lists individuals and entities whose assets are blocked and with whom most transactions are prohibited. The Embargoed Country List identifies countries under comprehensive sanctions, where dealing with any party from that country is generally restricted or prohibited. Screening against both lists is essential for compliance because it helps prevent transactions with sanctioned individuals and with embargoed jurisdictions.

The other options mix in lists that are owned or maintained by other agencies or international bodies. Denied Persons List, Entity List, and Unverified List are BIS (Bureau of Industry and Security) lists. Debarred lists and arms embargo-related lists can involve different U.S. or international authorities, or UN-administered sanctions, rather than OFAC's own published lists. While OFAC enforces UN sanctions, the UN Sanctions List and related Arms Embargo lists themselves are not OFAC’s proprietary lists.