ICA Sanctions Risk Cert Practice Questions - ICA Certificate In Managing Sanctions Risk Exam

What is the primary characteristic of an OFAC 'Specially Designated Nationals and Blocked Persons' (SDN) designation?

Assets within US jurisdiction are frozen, and US persons are prohibited from transacting with them Designated entities are permitted to conduct transactions below $10,000 without prior approval Restrictions apply only to US citizens residing inside the continental United States It represents a advisory recommendation that financial institutions may voluntarily choose to ignore

Correct Answer:

Assets within US jurisdiction are frozen, and US persons are prohibited from transacting with them

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