Ofac
/ˈoʊ.fæk/
Definitions
- (n.) The Office of Foreign Assets Control, a U.S. Treasury agency responsible for administering and enforcing economic and trade sanctions.
The company was fined for violating OFAC sanctions against certain countries.
Forms
- ofac
Related terms
See also
Commentary
The acronym OFAC is widely used in financial and legal contexts concerning sanctions enforcement; always capitalize in formal writing to distinguish the agency.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.