E-Merchants Trade Council, Inc.

Washington, DC--

On September 30, 2022, OFAC made the following announcement:

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing "Sanctions Compliance Guidance for Instant Payment Systems” which emphasizes the importance of taking a risk-based approach to managing sanctions risks in the context of new payment technologies such as instant payment systems and to highlight considerations relevant to managing those risks.  This guidance also encourages developers of instant payment systems to incorporate sanctions compliance considerations and features as they develop these systems.

Companies in the e-commerce ecosystem should join EMTC to get training on international trade compliance.