By Steven D. Mercatante Esq.
 
In Part One of this series on the Treasury Department’s Office of Foreign Assets and Control, OFAC, you learned what OFAC is and what it’s focus is upon. In this second part of our series we will examine how you can comply with the rules promulgated by OFAC and avoid any painful sanctions for noncompliance. Finally, in the third article in this series, we will provide some guidance in case you discover you may have been inadvertently working with a prohibited entity or individual.
 
How to comply with OFAC
 
There are a number of possible steps to help bring your organization into compliance with the OFAC regulations. First...