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The U . S . Department of the Treasury's Office of Foreign Assets Control ( OFAC ) oversees U . S . economic and trade
The US Department of the Treasury's Office of Foreign Assets Control OFAC oversees US economic and trade sanctions programs. These programs target certain foreign countries, known terrorists, narcotics traffickers, and other threats. OFAC strongly encourages companies to have a sanction compliance program that includes internal controls and auditing.
To ensure compliance with OFAC policies, invoices authorized for payment are checked against the OFAC sanctions list, which is a list of sanctioned individuals or entities maintained by the Office of Foreign Assets Control. Identify whether any of the provided vendors are on the OFAC sanctions list.
The first data set has our vendors and the second is a condensed version of the sanctions list. Clean up both data sets, address any duplicates, and combine them to identify whether any of the vendors are on the OFAC sanction list.
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