The Knowledge Congress Has Scheduled a Live Webcast on OFAC Compliance & Enforcement Issues: a Guide to Minimizing the Risk of Sanctions

New York, NY, September 05, 2009 --(PR.com)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, announced today that it has scheduled a live webcast on “OFAC Compliance & Enforcement Issues: a Guide to Minimizing the Risk of Sanctions”. This two-hour event is scheduled on Thursday, January 14, 2010, at 3:00 PM - 5:00 PM ET.

OFAC regulations were designed to put an end to the circulation of illegal funds and to block terrorists from masking fraudulent activity through seemingly legitimate front companies. Some of this activity is deliberate but many firms have been unknowingly duped into performing illegal activity by the terrorist or fraudster. Sanctions, depending on the type of violation, may include blocking of assets and restrictions on trade, fines, and other penalties. Companies must in the first place proactively take steps to detect and block fraudsters thereby avoiding sanctions. Furthermore, once a violation has occurred, the relative severity of it comes into place. Violations are classified as "egregious" and "non-egregious" which weigh in on how big the potential fine may be. This may seem subjective to some firms and it underscores the need to know how violations are classified and how they will be weighted in different cases. Companies must understand how fines are calculated in order to be best prepared if they find themselves in violation of the law.

This Knowledge Group Live webcast will help teach you how to set up proactive programs to detect and manage illegal activity – mitigating your risk for a sanction. In addition, it will help you learn what to do should you suddenly find yourself in the midst of an investigation. Given the potentially serious fallout from a sanction, you must have a thorough and comprehensive understanding of this process. This live webcast is a must attend event for companies that have any risk of being sanctioned by OFAC.

Speakers/Faculty Panel

Gerard (Jerry) W. LiVigni, Senior Compliance Officer, Office of Foreign Assets Control (OFAC), U.S. Department of the Treasury

Lorraine B. Lawlor, Chief, Compliance Outreach, Office of Foreign Assets Control (OFAC), U.S. Department of the Treasury

Jonathan Thomas, Senior Compliance Review Coordinator, Office of Foreign Assets Control (OFAC), U.S. Department of the Treasury

Steven Beattie, Principal, Financial Service, Ernst & Young LLP

For updated list of the faculty panel, please visit: http://www.knowledgecongress.org/event_2010_OFAC.html

About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series

The Knowledge Congress is a series of live webcasts produced by The Knowledge Group, LLC, which examine trends, regulatory, and technology changes across a variety of industries. “We bring together the world's leading authorities and industry participants through informative two-hour webcast that study the impact of changing regulations and help businesses succeed through proper regulatory compliance.” To contact or to register to an event, please visit: www.knowledgecongress.org.

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