Banks need ‘OFAC’ cell created in DFS to take care of sanctions associated advisories
Banks have requested the Division of Monetary Providers (DFS) to create an ‘Workplace of Overseas Property Management (OFAC)’ cell within the Division to take care of particular person advisories obtained by them from US OFAC. The advisories from OFAC, US Embassy, New Delhi, to Indian Banks normally relate to sanctions imposed by the US in … Read more