Office of Foreign Assets Control (OFAC) - Financial definition
Financial acronyms
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Country
: United States of America
Concise definition of the term Office of Foreign Assets Control
The Office of Foreign Assets Control is an agency within the US Treasury Department which administers and enforces economic and trade sanctions in support of the United States' foreign policy and national security objectives.
Comprehensive definition of the term Office of Foreign Assets Control
Sanctions can be targeted at foreign countries and regimes, terrorists, international narcotics traffickers, individuals or organizations engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States.