The Entity List isn't an OFAC hit, it's done by the Bureau of Industry and Security and is much less severe. It only bars certain exports, and the financial industry isn't exporting anything.
> Entity List isn't an OFAC hit, it's done by the Bureau of Industry and Security and is much less severe. It only bars certain exports, and the financial industry isn't exporting anything
Have you implemented a BSA, AML and OFAC program? Or worked at a financial institution that had? Because I have. You are as incorrect as your are adamant.
In case you're arguing in good faith, no, the Entity List isn't administered by OFAC. But it is a sanctions list, and as such, colloquially, generates an "OFAC hit" in compliance terms. If you work, or have worked, for an Entity List firm, you're going to have a hard time obtaining and maintaining bank or brokerage accounts, or buying insurance, from U.S.-regulated or interacting firms.
