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Product Update Notification - 09/30/08 Office of Foreign Assets Control Policy Update Details What's Revised Topic 3 - OFAC Background, Enforcement and Penalties. The following subtopics were added/and or revised: Types of Responses to Apparent Violations General Factors Affecting Administrative Action Civil Penalties for Failure to Furnish Information or Keep Records Civil Penalties The following subtopics were deleted: OFAC's Evaluation of Conduct Violations Factors Affecting Administrative Action License Suspension and Revocation Topic 4 - Definitions. The following definitions were added: Apparent Violation Applicable Schedule Amount Penalty Proposed Penalty Regulator Subject Person Transaction Value Voluntary Self Disclosure Topic 6 - Risk Management and Assessment. The fourth and fifth paragraphs of the "Automated Clearing House Transactions" subtopic were revised. Topic 9 - Automated Clearing House Transactions. The contents of this topic were completely revised to include the following subtopics: General OFAC Screening International ACH Transactions Product Contents Purpose and Contents - Topic 1 Policy Statement - Topic 2 OFAC Background, Enforcement and Penalties - Topic 3 Definitions - Topic 4 Structure of Accountability - Topic 5 Risk Management and Assessment - Topic 6 Screening and Blocking Processes - Topic 7 Rejecting Transactions - Topic 8 Automated Clearing House Transactions - Topic 9 Department Policies and Procedures - Topic 10 Audit Policy - Topic 11 Staff Training - Topic 12 Retention of Documentation - Topic 13 Ordering Information This product is available to purchase from Bankpolicies.com for: $275.00 - List Price - or - $75.00* - Update Price *Applies only to clients who have purchased the Office of Foreign Assets Control Policy Template within the last three years in addition to the following prior updates (if applicable): Office of Foreign Assets Control Policy Template Update - 09/27/07 - $50.00 Office of Foreign Assets Control Policy Template Update - 09/12/06 - $50.00 Office of Foreign Assets Control Policy Template Update - 02/21/06 - $100.00 If you have ordered this product after 08/30/08 you are eligible to receive the product update at no charge. Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price (whichever applies). NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com. Find Out What's New or Revised with our Product Update Program Our Product Update Program allows existing clients to receive e-mail notifications from us the same day we issue a new or revised product. We encourage you to subscribe today for this free and convenient service. |