What happens if you violate OFAC sanctions?

OFAC violations can result in civil penalties up to $353,634 per violation (2024 rate) or twice the transaction value, criminal penalties including imprisonment, loss of export privileges, and reputational damage. Most cases settle for significant sums — Binance's 2023 settlement was nearly $1 billion.

Detailed answer

SanctionsAI addresses this question through its core OFAC screening API workflow. The platform is designed to make the answer actionable rather than just informational.

Key considerations

• Understand your specific use case before deciding
• Evaluate the impact on your existing workflow
• Consider the cost of NOT addressing this question