Governance and Enforcement - Intro Flashcards by Grace Chong | Brainscape

Q

What are the three components of sanctions?

A

an economic action
taken against a target
to influence the target’s actions.

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Q

What can a sanctions target be?

A

a state
class of persons
an individual
function

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Q

What can sanctions restrict?

A

trade
financial transactions
diplomatic relations
movement

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Q

What are the five essential components to the OFAC’s Framework for OFAC Compliance Commitments?

A

Management Commitment
Risk assessment
Internal controls
Testing and auditing
Training

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