Recent years have seen US Attorney Offices conduct criminal prosecutions of companies and individuals who have breached economic sanctions, whether knowingly or not. Whilst we know that engaging in any new business relationship in Africa can be risky, the Office of Foreign Assets Control (OFAC) determines the nature of the potential violations in accordance with its 2009 Economic Sanctions Enforcement Guidelines.
- Consequently, you could be dealing with targeted foreign countries, terrorists, drugs dealers and other threats to the national security, foreign policy or economy of the United States without realising you are doing so.
- Are you concerned that you have not conducted suitable enhanced due diligence on the companies applying to join your supply chain within Afica?
- Do you know about the reputation and activities of your trading partners in Africa?
- Is there a risk that you might be sanctioned and appear on the OFAC SDN List?
At Zero Foundation Africa, we conduct enhanced due diligence enquiries and source background intelligence on business people in Africa to ensure your compliance with OFAC regulations. By prociding you with actionable and timely intelligence about your company’s business activities within Africa, we ensure that you remain compliant with OFAC regulations and do not become the focus of a criminal or civil prosecution.
Contact us for a confidential discussion to assess your risks in Africa. Rather than wait for an OFAC investigation, let us conduct your compliance investigations in Africa within an agreed budget and timescale.