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How do I setup a compliance program for my bank?
There is no prepackaged compliance program that fits the needs of every bank. Banks, obviously, range in size from small to some of the largest institutions in the world. A good starting point is to go to the OFAC website and look under 'Regulations by Industry.' Then read the brochure for the Financial Community. This brochure provides insight as to how your particular bank could set up a compliance program. There are also a number of articles written for banking industry publications available on OFAC's website. See, for example, OFAC Primer or Community Banks. It may be helpful to contact your counterparts in other banks to see what they are doing and talk to your regulator.
Office of Foreign Assets Control (OFAC), U.S. Treasury Department
http://www.treas.gov/offices/enforcement/ofac/
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