OFAC Publishes New Economic Sanctions Enforcement Guidelines

September 10, 2008

On Monday, September 8, the Office of Foreign Assets Control (“OFAC”) of the U.S. Treasury Department published new Economic Sanctions Enforcement Guidelines. The guidelines outline OFAC’s procedures for responding to apparent violations of OFAC sanctions programs and calculating related penalties. The attached Alert Memo summarizes the new guidelines and key changes from prior OFAC enforcement guidance.