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Sharif University of
Technology ASSOCIATION

OFAC Statement
Sharif University of Technology Association

OFAC Regulations Compliance Policy

SUTA is committed to complying with all applicable United States sanctions laws and regulations administered by the Office of Foreign Assets Control (OFAC). This statement outlines our compliance principles and explains how these requirements may affect memberships, donations, registrations, and other interactions with the Association.

OFAC Compliance Policy

As a California-registered non-profit charitable organization, the Sharif University of Technology Association (SUTA) operates within the jurisdiction of the United States and is legally required to comply with regulations mandated by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC).

SUTA is implementing a risk-based Sanctions Compliance Program (SCP) to prevent funds from reaching blocked persons or sanctioned countries, focusing on management commitment, risk assessment, internal controls, training, and auditing.

Key steps involve screening partners against the Specially Designated National (SDN) list, vetting recipients, conducting due diligence, using OFAC's risk matrix for high-risk areas like foreign aid, and obtaining licenses if needed, ensuring funds don't support terrorism or sanctioned activities.

SUTA continues to seek legal council regarding immigration law and OFAC regulations.

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