Sources for Maintaining Up-to-Date Sanctions Information

BD

The correct answers are B. U.S. Department of the Treasury Office of Foreign Assets Control and D. Financial Action Task Force's list of High Risk and Non-Cooperative Jurisdictions.

A. U.S. Federal Bureau of Investigation's National Security Letters: This option is not a valid source for maintaining up-to-date sanctions information. National Security Letters (NSLs) are investigative tools used by the U.S. Federal Bureau of Investigation (FBI) in specific cases related to national security investigations. NSLs are primarily used to request customer records from financial institutions, telecommunications companies, and other entities. They are not a comprehensive source for maintaining up-to-date sanctions information.

B. U.S. Department of the Treasury Office of Foreign Assets Control (OFAC): This is a valid source for maintaining up-to-date sanctions information. The OFAC is an agency within the U.S. Department of the Treasury responsible for administering and enforcing economic and trade sanctions. OFAC maintains and publishes a list of individuals, entities, and countries subject to various U.S. sanctions programs, such as the Specially Designated Nationals and Blocked Persons List (SDN List). The SDN List includes individuals and organizations associated with terrorism, narcotics trafficking, proliferation of weapons of mass destruction, and other illicit activities. Regularly checking the OFAC sanctions lists helps organizations identify and comply with applicable sanctions requirements.

C. U.S. Department of the Treasury - Section 311 - Special Measures: This option is not a valid source for maintaining up-to-date sanctions information. Section 311 refers to a provision in the U.S. Patriot Act that empowers the U.S. Department of the Treasury to take special measures against foreign jurisdictions, financial institutions, or transactions of primary money laundering concern. While Section 311 can provide useful information for combating money laundering, it does not serve as a source for up-to-date sanctions information.

D. Financial Action Task Force (FATF)'s list of High Risk and Non-Cooperative Jurisdictions: This is a valid source for maintaining up-to-date sanctions information. The FATF is an international standard-setting body that develops policies and promotes effective measures to combat money laundering and terrorist financing. The FATF maintains a list of jurisdictions that pose a risk to the international financial system due to deficiencies in their anti-money laundering and counter-terrorism financing regimes. This list, commonly known as the "FATF blacklist" or "grey list," provides valuable information about high-risk jurisdictions that may require enhanced due diligence or other measures to mitigate the associated risks.

In summary, the two valid sources for maintaining up-to-date sanctions information are B. U.S. Department of the Treasury Office of Foreign Assets Control (OFAC) and D. Financial Action Task Force's list of High Risk and Non-Cooperative Jurisdictions (FATF's list).