HEXDI Integrates Framework for OFAC Compliance Commitments

On May 2, 2019, the Department of Treasury Office of Financial Assets Control (“OFAC”) issued a Framework for OFAC Compliance Commitments. The OFAC Framework strongly encourages organizations subject to U.S. jurisdiction to employ a risk-based approach to sanctions compliance by developing, implementing, and routinely updating a compliance program with at least five essential components of compliance:

1. Management Commitment
2. Risk Assessment
3. Internal Controls
4. Testing and Auditing
5. Training

HEXDI has integrated 42 additional government standards reflected in the OFAC Framework, which are now included in HEXDI modules 1 through 12.

STD SOURCE: Office of Foreign Assets Control, Framework for OFAC Compliance Commitments (May 2019).