OFAC Licensure for Investigators Act requires the Office of Foreign Assets Control to establish a pilot program for private sector firms to receive.
The OFAC Licensure for Investigators Act mandates the Office of Foreign Assets Control to create a pilot program allowing private sector firms to obtain licenses for conducting nominal financial transactions to support their investigations. The program will run for five years. Licensed firms must submit monthly reports on their activities to OFAC. The Director of OFAC must coordinate with the Financial Crimes Enforcement Network and provide annual reports to Congress, including details on the number of licenses requested and granted, and an assessment of the program's utility.
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- Core Provisions
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- Legal Framework
- Critical Issues
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