Office of Foreign Assets Control (OFAC)
Office of Foreign Assets Control. A US regulatory Agency that is responsible for monitoring funds held or transferred to illegal entities. The OFAC list is a list of companies/individuals that should be prevented from sending/receiving funds.
Requires financial institutions in the United States to assist U.S. government agencies to detect and prevent money laundering.
Politically Exposed Persons: Individuals, or their relatives, who are prominent public functionaries.