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What OFAC Means to You (Part 2)
August 08, 2011 | No Comments | share on facebook | retweet | share on LinkedIn
by Randy Henrick
Randy Henrick, associate general counsel and lead regulatory and compliance Counsel for DealerTrack, discusses what OFAC means to dealers as the featured blogger for Dealer-magazine.com:
In my last blog, we discussed what an OFAC is and why you must run an OFAC on every customer you sell a vehicle to, cash and credit. Let’s talk a bit more about OFAC compliance and how you can potentially mitigate the large civil and criminal penalties we listed if you ever do sell or finance a vehicle to someone on the OFAC list.
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