OFAC’s Virtual Currency Guidance

In October 2021, the US Treasury's sanctions authority, the Office of Foreign Assets Control (OFAC), issued sanctions compliance guidance for the cryptocurrency industry. Castellum.AI has helped its users meet or exceed the specific steps mentioned in the guidance document recommendations since January 2021.

CHALLENGE: Identifying sanctioned individuals, entities, vessels, aircraft or locations in cryptocurrency transactions.

SOLUTION: OFAC says that "protecting the business from sanctions violations and intentional misuse of virtual currencies by malicious actors" is accomplished through well designed, planned and tested sanctions screening.

IMPLEMENTATION: Screening Screening is where an organization's data preparation, mapping and testing is put into practice. Below we outline OFAC's requirements and how we meet them:

How does Castellum.AI stack up against the guidance?

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